Final answer:
A good credit score makes it easier to borrow money from lenders at lower interest rates. To maintain a good credit score, pay bills on time and avoid using too much available credit.
Step-by-step explanation:
A good credit score has several benefits. One benefit is that it makes it easier for you to borrow money from lenders. Banks and other financial institutions use your credit score to determine whether you are a reliable borrower. A higher credit score usually means you can borrow money at lower interest rates. Another benefit of having a good credit score is that it can help you qualify for better terms and conditions when applying for loans or credit cards.
To maintain a good credit score, it is important to pay all your bills on time and avoid using too much of the available credit. Making timely payments and keeping your credit utilization low demonstrate responsible credit management. It is also important to regularly check your credit report for errors and fraudulent activity, as these can negatively impact your credit score.