What Is Credit Score?

A credit score is a three-digit figure that ranges from 300 to 850 and is used to determine your credit risk or the possibility of timely payment of your debts. A credit score is a number that ranges from 300 to 850 and represents a person’s creditworthiness. A borrower’s credit score improves the way he or she appears to potential lenders. A credit score is calculated using information from your credit history.  Credit History This has to do with the number of accounts you have open, the total amount of debt you owe, and your repayment history, among other things. […]



Credit Bureaus and Credit Scores

A credit score is a statistical number that evaluates a consumer’s creditworthiness and is based on the individuals credit history. Credit scores steams from a key need – The need to ascertain the associated default risk of the borrowing party using historical credit reference and predict the probability that the borrower will default/perform on a new loan obligation. By some credit score user’s standard however, the current credit score model may be limited in a number of ways – (1) It leverages on credit parameters and ignore individuals without credit, even though such person may be liquid. (2) It declares[…]