It is a number which gets assigned to you which is supposed to indicate your risk profile.
A credit score is a number generally ranging from 300 to 850 (this differs between different credit bureau’s). A lower score indicates a user as being more risky and a higher score; less risky.
Why do credit scores matter?
Your credit score is important because it is the main factor which lenders use to judge whether or not to lend you money or not.
If you have a lower score, it will be more difficult to get credit and it will be more expensive to borrow money. A higher score means getting access to credit will be easier and cheaper.