You probably already know the basics of what a credit score is, but you might not know that what it's actually doing is telling your potential creditors or lenders the likelihood of you going delinquent on your account within a specific period of time.
The higher your score is, the less risky you are. The lower the score, the more risky, and the more likely you are to go delinquent on your account.
Now, based on that, lenders can actually determine whether or not to extend credit to you at all or they can determine how much of a premium you're going to have to pay.
Watch this video for an example and deeper dive into this topic to see why we say your credit score is your daddy!
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