Your credit score is one of the most important factors used by lenders to determine whether to grant you credit, how much credit to grant you, and at what interest rate to grant it.  For this reason, it is important to know that your score truly represents your credit standing.  Generally, the higher your score, the better off you are.

Lenders do take into consideration other factors: your job history, your income, your savings, mortgage information and your actual credit report.  They may even take into consideration any special reasons for past credit problems.  In the end, the final decision on whether or not to grant you credit lies with them.

If you are planning a major purchase, you should check both your credit report and your credit score several months before.  Make sure the information in your credit report is accurate, as this will affect your score.  Credit scores above 650 will usually qualify you for credit.  Below this, you may have trouble receiving credit.