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What is a credit score?

What is a credit score?


A credit score is a three digit number, the most common type (FICO) ranges between 300-850, that shows potential lenders how likely you are to pay them back. This number is determined using your credit history which includes the number of accounts you have open, amount of debt you have, and your repayment history, among other things. This score will be referenced any time you try to receive a loan, but it can also be referenced when applying for other items, such as avoiding paying required security deposits and much more. For more information from the CFPB click on


https://www.consumerfinance.gov/ask-cfpb/what-is-a-credit-score-en-315/

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