A Credit score is a number derived from a system that creditors use to help determine whether to give you credit, and how much to charge you for it.
Information about you and your credit experiences is collected from your credit application and your credit report. Examples of information used include your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, and the age of your accounts .
Using a statistical formula, creditors compare your information to the credit performance of consumers with similar profiles. A credit scoring system awards you points for each factor. The total number of points is your credit score.
Your credit score predicts how how likely it is that you will repay a loan and make the payments on time. Generally, consumers with good credit risks have higher credit scores.
You can get your credit score from the three nationwide consumer reporting companies, but you will have to pay a fee for it. Many other companies also offer credit scores for sale alone or as part of a package of products.
For more information, see Credit Scoring at ftc.gov/cre
LARRY KUDLOW: The Bidens are doing everything they can to stop liquified
natural gas development and exports
-
FOX Business host Larry Kudlow says if President Biden and his 'Green New
Deal gang' are re-elected, the country could face 'massive electricity and
other ...
3 hours ago
0 comments:
Post a Comment