A credit score is a rating system creditors use to help determine whether to give you credit, and how much to charge you for it. If you have ever applied for a credit card, loan, or insurance, then there is a file about you known as your credit report which will include your quality score rating.
It is important to check your credit report for accuracy from time to time. This file has information about you and your credit experiences, bill paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, bankruptcies, and the age of your accounts, collected from your credit application and your credit report. Using a statistical formula, creditors compare this information to the performance of consumers with similar pr View the rest of this article
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