​Credit Scores & Their Impact on Financial Opportunities

Your credit score is a three-digit number (usually between 300–850) that shows lenders how likely you are to pay back borrowed money.

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This is CRUCIAL as it directly impacts in your access to loans, rental agreements, even opportunities in the workfare area.

 

This is used for example with your credit cards, where you use money that isn’t yours to pay for things.

 

Think of it like a report card for your money habits.

 

• High score/Crediworthy: You’re seen as "low risk", so banks give you better deals (lower interest rates), you’re trusted to borrow and pay back.

• Low score: You’re "high risk", so loans can cost more or be harder to get.

 

The term credit utilization refers to how much of your available credit you’re using. Keeping it low (say 30% or less) also helps keep your score up.