A credit score is a crucial tool in the world of personal finance, used by institutions to gauge how well you manage your money and repay your debts.

It’s a critical factor when applying for any type of loan, from mobile phone contracts to mortgages and personal loans.

Consequently, those with less-than-stellar credit scores may find themselves shelling out thousands more in interest compared to their counterparts with good or excellent scores.

TotallyMoney revealed that individuals with a poor…