While credit scores are not required, they are certainly recommended. Credit scores enable lenders to predict whether you will make your credit payments on time. Credit scores also determine whether lenders will charge your interest rate or credit limit on a credit card or sent it to you in the mail. Having good credit can make your financial transactions much easier and can end up saving you a lot of money. This is why it is important to have a credit score. Most people's credit score falls between 600 and 700.