A credit score is a credit rating provided by the 3 main credit bureaus that reveals your ability to pay back a loan. Therefore, most of the credit rating, also called a FICO score, is based on your ability to pay and your debt-to-income ratio. Scores range from 300 to 850, and are categorized as Excellent, Good, Fair, and Poor. If you have a higher credit score, you will enjoy better terms and a lower interest rate on any financing you receive.