system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: What is a credit score, how does it work, and why is it so important??

I’m sorry if this basic knowledge, but I honestly don’t understand any of it.
gpt
A credit score is a number that financial institutions use to judge how likely you are to pay back any loans or credit extended to you.  The higher the score, the more stable and trustworthy they view you.

The score is important because many large purchases in life usually require a loan.  For example, a car loan or a home mortgage.  The better your credit score, the better terms the bank will extend you on the loan.