A credit score is a number usually between 350 and 850 that is calculated by a mathematical formula that evaluates many types of information on your credit report. The higher your score the better. This score helps lenders and others decide how likely you are to repay your debts. Credit scores do matter. They affect whether you can get credit, your interest rate or credit limit on a credit card, auto loans, mortgages, and even the types of jobs and rental housing available to you.