Why are people so obsessed over FICO/credit scores?

I'm curious because I believe the FICO folks have done an unbelievable marketing job. There ARE other ways to be measured for debt worthiness. That said, I see so many people that aren't anywhere NEAR a point in their lives where they should be considering financing do some really stupid things in the interest of "building credit". Why isn't paying on time for utilities, etc. enough (it is, by the way).

Paying for utilities and other similar bills are good to show that you pay your bills to certain people or entities, like an apartment complex. But paying for utilities or other similar bills is not a way to officially build your credit. Financing a car, getting a credit card, or getting a mortgage are the typical ways to do so. People focus on scores because it generalizes your ability to pay off any credit that has been extended to you into a single number. That number helps to decide how much it will cost you to borrow money in the future. It also says how able you are to pay off money you've borrowed, and you don't borrow money and pay off utilities. The higher your credit score, the less interest you have to pay, and the lower your score is, the more interest you have to pay. And unless you are rich, if you want a house or a car, you'll likely only have the option to finance it. And isn't better to pay attention to your credit so that you can have more money for the things you want as well as the things you need?

Well utilities arent reported on your credit report when you pay on time. Basically the benefit of keeping a good score means that you will have low percentage rates on things you do finance. No one wants to pay 20% interest on a car.

I agree with you regarding the FICO thing - a brilliant marketing job. If people would take care of their credit, the credit score would take care of itself.

Utilities, rents, etc., will never be considered "credit" however.