What is a credit score?

Answer:

Your credit score quantifies the information in your credit report. This allows lenders to set a standard for loan approvals and quickly assess an applicant’s credit standing.

Not all lenders calculate credit scores the same way, and depending on the scoring model used your score can vary. However, most scoring models are very similar, so by looking at one credit score, you’ll get a general idea of what your score will be using another scoring method.

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