"A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual."
A numerical representation of a borrower’s creditworthiness.
Credit Reports: Describes how to obtain your credit report, what information is contained in it, and how to read it.
Credit Score: Explains how credit scores are calculated and the factors that affect them.
Credit Bureaus: Describes the three main credit bureaus, Equifax, Experian, and TransUnion, and their role in credit reporting.
Credit Card Debt: Strategies for managing credit card debt and reducing balances.
Credit Utilization: The percentage of available credit you use, and how it affects your credit score.
Payment History: How on-time payments affect credit scores, and options for addressing late payments or collections.
Hard vs. Soft Inquiries: The difference between a hard inquiry, like when you apply for a loan or credit card, and a soft inquiry, like when you check your own credit score.
Credit Monitoring: The benefits of monitoring your credit score and ways to do it.
Authorized User: Adding an authorized user to your account, the impact on your credit score.
Identity Theft: How to recognize and prevent identity theft, including fraud alerts and credit freezes.
Credit Repair: Outlines steps you can take to repair credit, including disputing errors on credit reports.
Credit Counseling: Counseling services to help manage debt and create payment plans.
Bankruptcy: The different types of bankruptcy and the impact on credit scores.
FICO Score: This is one of the most commonly used credit scores and is provided by the Fair Isaac Corporation. It is used by many lenders to determine an individual's creditworthiness and ranges from 300-850.
VantageScore: This is another popular credit scoring model developed by the three major credit bureaus (Equifax, TransUnion, and Experian). It also ranges from 300-850.
CreditXpert Score: This is a credit scoring model that focuses on the factors that affect an individual's ability to obtain a mortgage. It ranges from 350-875.
CE Score: This credit score is provided by the credit reporting agency, CoreLogic, and is designed to help lenders assess a borrower's likelihood to default on a loan. It ranges from 100-997.
PLUS Score: This is a credit score developed by Experian and ranges from 330-830. It is often used by lenders to determine creditworthiness for non-mortgage loans.
TransRisk Score: This is a scoring model developed by TransUnion and ranges from 300-850. It is often used by lenders to determine a borrower's risk of defaulting on a loan.
Equifax Credit Score: This is a credit score provided by Equifax and ranges from 280-850. It is often used by lenders to assess an individual's creditworthiness.
"A credit score is primarily based on a credit report, information typically sourced from credit bureaus."
"Lenders use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt."
"Lenders use credit scores to determine who qualifies for a loan, at what interest rate, and what credit limits."
"Credit scoring is not limited to banks. Other organizations, such as mobile phone companies, insurance companies, landlords, and government departments employ the same techniques."
"These organizations use credit scores to assess the creditworthiness of individuals when providing their services."
"Digital finance companies such as online lenders also use alternative data sources to calculate the creditworthiness of borrowers."
"Lenders also use credit scores to determine which customers are likely to bring in the most revenue."
"Other organizations, such as mobile phone companies, insurance companies, landlords, and government departments employ the same techniques."
"A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual."
"Lenders use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt."
"Credit scores are primarily based on a credit report, information typically sourced from credit bureaus."
"Lenders use credit scores to determine who qualifies for a loan, at what interest rate, and what credit limits."
"Credit scoring is not limited to banks. Other organizations, such as mobile phone companies, insurance companies, landlords, and government departments employ the same techniques."
"These organizations use credit scores to assess the creditworthiness of individuals when providing their services."
"Digital finance companies such as online lenders also use alternative data sources to calculate the creditworthiness of borrowers."
"Lenders also use credit scores to determine which customers are likely to bring in the most revenue."
"Credit scoring is not limited to banks. Other organizations, such as mobile phone companies, insurance companies, landlords, and government departments employ the same techniques."
"Lenders use credit scores to determine who qualifies for a loan, at what interest rate, and what credit limits."
"Lenders use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt."