Numerical expression representing a person's creditworthiness
This article is about an individual's financial credit score. For organization's credit rating, see credit rating. For China's system for trustworthiness, see Social Credit System.
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.[1] A credit score is primarily based on a credit report, information typically sourced from credit bureaus.[2]
Lenders, such as banks and credit card companies, 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.[3] 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. Digital finance companies such as online lenders also use alternative data sources to calculate the creditworthiness of borrowers.[4][5]
^Kagan, Julia. "Credit Score". Investopedia. Archived from the original on 2007-10-19. Retrieved 2021-05-24.
^"What Is a Good Credit Score?". www.experian.com. 2021-02-11. Retrieved 2021-05-24.
^"What is a Credit Score – Credit Score Range | Equifax". www.equifax.com. Retrieved 2021-05-24.
^Experian; Karma, Credit; Hero, Student Loan; Tretina, more Learn about our editorial policies Kat. "What Credit Score Do You Need to Buy a Car?". Investopedia. Retrieved 2021-05-24.
^Kagan, Julia. "Insurance Score". Investopedia. Archived from the original on 2006-03-17. Retrieved 2021-05-24.
individual. A creditscore is primarily based on a credit report, information typically sourced from credit bureaus. Lenders, such as banks and credit card companies...
A creditscore is a number that provides a comparative estimate of an individual's creditworthiness based on an analysis of their credit report. It is...
credit card companies, collection agencies, and governments. A borrower's creditscore is the result of a mathematical algorithm applied to a credit report...
applied for credit cards were eventually denied following a credit check, costing their time and a negative impact to their creditscore. Credit Karma reached...
ClearScore is a British financial technology business that provides creditscores, reports and affordability scores for individuals at no cost to its users...
agency in the United States, a credit reference agency in the United Kingdom, a credit reporting body in Australia, a credit information company (CIC) in...
information obtained by the credit rating agency's analysts. Credit reporting (or creditscore) – is a subset of credit rating – it is a numeric evaluation...
credit, individuals with higher creditscores have access to lower APRs than those with lower scores. Commercial credit reporting Credit risk Credit theory...
Creditscoring systems in the United States have garnered considerable criticism from various media outlets, consumer law organizations, government officials...
A creditscore is a numerical expression representing the creditworthiness of an individual. A creditscore is primarily based on a credit report, information...
A credit card is a payment card, usually issued by a bank, allowing its users to purchase goods or services or withdraw cash on credit. Using the card...
Zhima Credit (Chinese: 芝麻信用; pinyin: Zhīma Xìnyòng; also known as Sesame Credit) is a private company-run creditscoring and loyalty program system developed...
the bond credit rating represents the credit worthiness of corporate or government bonds. It is not the same as an individual's creditscore. The ratings...
as Credit Information Bureau (India) Limited CIBIL score is a bank's assessment of a client's trustworthiness based on information from their credit history...
An insurance score – also called an insurance creditscore – is a numerical point system based on select credit report characteristics. There is no direct...
VantageScore is a consumer credit-scoring system in the United States, created through a joint venture of the three major credit bureaus (Equifax, Experian...
credit. A borrower must have a high creditscore and good repayment history to meet the eligibility criteria for getting an unsecured line of credit....
to the better-known creditscore, but unlike creditscores, bankruptcy risk scores are not sold to consumers by any of the credit bureaus. Consequentially...
Before standardization of creditscoring, statements of character were integral to credit reports well into the 1960s. With credit reports containing probing...
before extending new credit and keep non-performing loans in check. Consumers can check their credit reports and creditscores from the company's website...
by credit rating agencies but by credit bureaus (also called consumer reporting agencies or credit reference agencies), which issue creditscores. The...
their creditscores. Credit use, the number of on-time payments and the length of time one has had one's credit card can effect the creditscore of the...
considering credit and financial history, etc.). Risk scores are designed to be: Simple to calculate: In many cases all you need to calculate a score is a pen...
Montana, focused on creditscoring services. It was founded by Bill Fair and Earl Isaac in 1956. Its FICO score, a measure of consumer credit risk, has become...
concentrated in the middle of the creditscore distribution, and mostly attributable to real estate investors" and that "credit growth between 2001 and 2007...
"social-credit system" remains to be controversial as this single score can be a reflection of a person's every aspect. Indeed, "much about the social-credit...
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