The concept of credit scores can be a very confusing one, but it is very important to have and understand. 

Connie Miller with the DeWitt Savings Bank explains that your credit score is crucial for making large purchases like a home, apartment, or car, or for securing loans. She says the best way to increase that number is to simply pay your bills on time. 

Another big portion of your credit score has to do with available balance. Miller recommends only spending up to 30% of your total credit limit to ensure your credit score doesn't decrease. 

Credit history is also important, which is why it can be a good idea to get a credit card early in life, as long as you can be trusted with it. A long credit history provides a record of your on-time payments and good habits for lenders. 

Credit scores will come into play for college students and possibly their parents who are looking to take out student loans for the upcoming school year. We'll have more with Miller on that in the days ahead from the Hart Media Group.