Free Credit Reports Credit Report Score
What is a Credit Report Score? |
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What is a credit report score?
What is a credit report score?
It is a number used by lenders as an indicator of how likely you are to repay your loans. Utilizing the data from your credit report, your credit score is generated
with a mathematical formula. For more than thirty years lenders have been using the credit report score as part of the lending decision.
There are various factors that determine an individual’s credit report score, including the following.
Payment history
Outstanding debt
Length of credit history
Severity and frequency of negative credit information such as bankruptcies, charge-offs, and collections
The amount of credit used compared to the credit available.
Your credit report score is one of the most important indicators of your financial health. Lenders use your credit score to determine whether or not you are a good candidate for a loan,
plus, what type of interest rate you will have to pay.
For
more information on Credit Report Score, or to choose from a variety of related products
and services, choose from the following:
Reports |
Monitoring |
Scores |
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Debt Help
Last Updated:
18-Mar-2006
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