What is the big deal with credit and credit scores?
Credit is measured by a mathematical model called credit score. There are more than 150 scoring models created by different companies. The main model you need to learn about is the number one most widely used by all lenders FICO. Credit scores for FICO range from 300 to 850. The higher your score, the less you will pay for credit.
When you have good credit scores, your lifestyle is good. You can borrow large and pay small interest rates. When your credit scores are not good you experience just the opposite; small loans at high interest rates.