When it comes to your financial life, your credit score is very important. In the United States, credit scores are used to judge your creditworthiness and your financial trustworthiness. That means lenders use your credit score to decide whether to approve you for a loan, determine the amount you’re eligible to borrow, and set the interest rate they offer you. Having a good credit score can actually save you tens of thousands of dollars over your lifetime. As if that weren’t enough, your credit score is also used to determine your trustworthiness to open up a cell phone account, set up an account at a utility, or rent an apartment.