If you're checking your credit report
or credit score for the first time, it might be helpful for you to check out the sections Credit Basics and FAQs", Your Credit Report", or Your Credit Score". For starters, here are some basic questions and answers:
Question: Who looks at my credit and why is it so important?
Lenders review your credit report and credit score before making their decision regarding your credit application for everything from a car to a home, to credit cards, department store cards, and other purchases.
and credit score is normally a major factor in determining whether your loan application is approved, and the interest rate you will be charged.