Credit is your financial status or when you borrow someone else and your the recipient
you should always maintain a good credit. if you don't have good credit then you wont be able to get the things you need like a house.
HOW TO MAINTAIN GOOD CREDIT
1.pay all your bills
2.pay them all on time
3. no previous payments that haven't been paid
credit score is showing you where you are specifically financially
it is important because certain places or things require a certain credit score to get a house car or even a phone etc.
GOOD CREDIT SCORE
BAD CREDIT SCORE 700-BELOW
how you can improve your credit score?
you can start of paying off any companies you owe money to http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&frm=1&source=video&cd=1&cad=rja&uact=8&ved=0CDgQ6QUoADAA&url=http%3A%2F%2Fwww.moneysavingexpert.com%2Floans%2F&ei=VM-AVMKBOoafgwTB9IPYDA&usg=AFQjCNFhsly8FbCD_eE5PpcPmp8OBdKSmg&bvm=bv.80642063,d.eXY