It tells lenders if they can trust you because if you have a high credit score it means you have a good reputation, and it you have a low credit score it means you have done something wrong or that you are not really responsible
Credit scores are based on a person's financial history.
The credit bureaus prepare the financial reports of a person. These reports are further processed by FICO to award credit scores to that person.
These scores tell about the financial reliability of the borrower.
The lenders get to know about the borrowers history of finances and payments. Good scores tell that the person pays on time and is reliable for any further loan. Bad scores tell that the person does not pay timely and has debts on him. He is a defaulter in terms of payments.
This is the reason, the lenders consider credit scores.
