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Your Cred-O-Meter:
Building Credit Cred: Your Credit Score

In much the same way that your grade point average (GPA) tells the story of your success as a student, your credit score tells the story of your creditworthiness. Your GPA affects where you will have the opportunity to go to college and, in some cases, your eligibility for loans, grants, and scholarships. But what does your credit score affect? Just about everything, it turns out:

Renting an apartment Car loan eligibility Mobile phone deposits
Auto insurance rates Student loan eligibility Credit card offers
Utilities deposits Employment eligibility Interest rates on loans

The biggest difference between your high school GPA and your credit score is that your GPA is cumulative, meaning that every grade you’ve earned factors equally into that one number. In contrast, your credit score is more of a snapshot of your creditworthiness at a given point in time. As you get older and have more credit and more types of credit under your belt, the older items matter less and less and eventually no longer count toward your credit score.