What is Credit Score? According to Bankrate.com, “credit score can mean the difference between being denied or approved for credit and a low or high interest rate.” Basically, it’s a score for company or agency to know if you are a person who has good record on pay back anything you owe. So they can issue an appropriate amount/interest of the loan, or credit card, without risking their business. In other hand, people will be able to get a loan, or credit card without paying a deposit, if you have a good payback record.