As an individual or a business, your rating by the big three companies is extremely important. You can view your credit rating online so you can discover who has been checking your credit and why with all three credit report and scores.
Experian
Equifax
TransUnion
A credit rating assesses the credit worthiness of an individual or a corporation. These ratings are calculated based on the financial history of the individual or corporation, and their current assets and liabilities. Anyone and everyone dealing with you on a business level will check your credit rating. The biggest candidates to check are Banks! They want to know if that $20,000 loan they will be giving you for your new car can be paid back. If you've had a bad history they may be likely to decline you. At times your insurance premiums can also be affected by your credit rating, but that depends on the insurance company.
If your rating indicates that you have a poor credit rating, you will likely get hit with high interest rate loans. This will make it tougher for you to borrow anything with the huge interest rates you will be paying. At times, you will get flat out rejected when applying for a loan or mortgage or any other type of request to borrow money. Knowing your credit rating will help you make decisions about the future in what you want to purchase, and if its a viable solution. Keeping that rating excellent ensures trouble free borrowing in the future.