So this little piece of paper is very important and can be used as security by the lenders.

It is important to find out what financial habits or situations you got into trouble in the first place and take care of them as best you can.
Unfortunately, sometimes life happens and you find yourself faced with situations that can lead to the loss of a decent credit rating.
It is therefore important for you to access your credit report if you are ready to apply for loans.
Credit report means a lot while applying for any credit facility or employment.
If the report is not good enough or you can proof yourself that it is your past, you can change it.