A credit score shows potential lenders how credit worthy a person is. A person with a good score will receive a lower rate on loans, mortgages, debt consolidation plans and other financial products. If a score is lower, lending institutions will often still give the person a loan; however, they will charge a higher interest rate. Therefore, it's important for consumers to maintain good credit to get the best deal possible. If a credit rating is low, there are a few things that a person can do to improve it.