A good score may mean you have easier access to more credit, possibly even at lower rates. But the real key to improving your score is to focus on managing your credit better. The consumer benefits of a good credit score go beyond the obvious. For example, underwriting processes that use credit scores allow consumers to obtain credit much more quickly than in the past.
Credit scores also help promote objective lending standards — diminishing discrimination and human error. And credit scores also help promote responsible lending by matching the appropriate types of credit to consumers based on their risk profiles. Perhaps most importantly, credit scores give borrowers an incentive to adopt better financial habits in order to receive the best terms and conditions from lenders.