Pretty damn important if you ever want to borrow money or open up a line of credit. If you’re already rich and can pay for everything in cash, your credit score may not be so important. Lenders use your credit score to determine if you are someone likely to repay money that you borrow. Basically, they use your credit score to determine your creditworthiness. If you have a low credit score you may not be able to get the line of credit you need, be it a car loan, mortgage, personal loan, or new credit card. Your credit score ranges from 300-850. The higher your score, the better. Read the Full Answer Here