NounPlural credit scores credit score (plural credit scores)
From Wiktionary under the GNU Free Documentation License. A credit score is a numerical expression based on a statistical analysis of a person's credit files, to represent the creditworthiness of that person. A credit score is primarily based on credit report information, typically sourced from credit bureaus. 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. The use of credit or identity scoring prior to authorizing access or granting credit is an implementation of a trusted system. Credit scoring is not limited to banks. Other organizations, such as mobile phone companies, insurance companies, employers, landlords, and government departments employ the same techniques. Credit scoring also has a lot of overlap with data mining, which uses many similar techniques. From Wikipedia under the
GNU Free Documentation License From Yahoo Image Search: "credit score"  withoutdebts.com unknown Sun, 28 Feb 2010 18:09:26 GM Steven Feldman wrote an interesting post today onHere's a quick excerptBrowse through the internet and search for AnnualCreditReport.com. You can see the.  indexcreditcards.com IndexCreditCards Mon, 01 Mar 2010 10:59:56 GM With credit card companies imposing new fees, and hiking rates, many consumers are thinking of cancelling one or more of their cards. But what does that mean for their . credit scores. ?  forums.ukwebmasterworld.com touchmenow Sun, 28 Feb 2010 11:18:28 GM Hi everyone, I have been going through my . credit scores. lately and feel as if it is time to get someone working on it. I really don't have any. From Google Blog Search: "credit score"  news.google.com Newswise (press release) Newswise Credit scores , developed to make loan processing faster and fairer, account for some of the racial disparities in the types of houses that ... and more » news.google.com Credit Loan (blog) One victim had to sue a collection agency to clear $575 in bills and restore her credit score , according to the report. "Beyond the investment of time in ... and more » news.google.com Geek WIth Laptop Nothing you do with Kwedit will affect your real life credit score and Kwedit don't charge interest, fees or charge for late payments and they won't hound ... Kwedit Launches: The First Completely Unreliable Payment Network TechCrunch (blog) all 220 news articles » From Google News Search: "credit score" What's the importance of knowing your credit score when the creditors run your credit anyway? Q. When I apply for loans and tell the creditors what my credit score is they still run my credit. All the reports I read talk about the imporatnce of knowing your credit score and that's fine. But what's the importance of knowing my score when the creditors run it anyway? Also, how do we know that the rates that we qualify for are true based on ourcredit score? Is there a chart tat we can put our credit score up against and it tells us what rates we qualify for? Asked by AMEFIKA - Mon Dec 3 09:28:14 2007 - - 3 Answers - 0 Comments A. Creditors can not simply take your word as far as your credit score, besides a whole lot more then score goes into deciding weather someone gets approved for a loan or not. I look at credit every day and see people every month with scores over 700 that can not buy a car because their score is made up of one credit card with a $500.00 limit paid 15-times and a couple of student loans. While this generates a great score it doe's not show the ability or the willingness to actually pay anyone. To have the best score and profile you will need 3 credit card accounts (revolving) with balances below 30% of your credit limiat and 2 cars, boats, homes, funriture or personal accounts (installment) all with good long pay history's. Answered by SPIFIMAN1 - Mon Dec 3 12:44:37 2007 How can i fix my poor credit score when i already paid everything off? Q. My credit score is still in the 400's. I paid off all of my collections and my credit cards. I recently purchased a new car with a co-signer and i pay more than my monthly payment. But my credit score is still in the 400's and it's been more than a year since i paid everything off. Is there any other way to improve my credit score? Asked by jeanine - Fri Oct 9 11:23:56 2009 - - 1 Answers - 0 Comments A. Collections (well, the original bad debt) will stay on your credit for 7-10 years. So, even if you're currently in the clear, your recent past still weighs significantly, especially the negatives. You may want to use a credit card, and pay it off, just to keep up a history of paying your debts. Just having zero debt doesn't give you any major benefit. The reporting companies would rather see you using credit responsibly. And as v.b. said, it'll take more time. if you are looking for the free credit score and report usa national site, check out this site Here you can see your 3-in-1 Report from all three credit reporting agencies and your credit score. Answered by mignon - Fri Oct 9 17:10:14 2009 My credit card balance is over 50%. How long will it take my credit score to go back up?
Q. Hi. I recently just got my first credit card ever and used it to make a $1600 purchase. The credit limit is $3000, so obviously I'm over 50% of the balance, and I just learned that's bad for credit scores. I expect to be able to pay off the purchase in the next two or three months. Will my credit score go back up immediately after I get the balance on my card down, or will it take a while? Thanks. Asked by Casey - Mon Feb 26 19:25:03 2007 - - 3 Answers - 2 Comments A. Once your percent gets to below 30% of your available credit, you will see improvements. They lower the percentage, the higher your potential score is. Answered by Mariposa - Mon Feb 26 22:37:18 2007 From Yahoo Answer Search: "credit score" From Wikiquote under the GNU Free Documentation License. See also:
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Your Credit Record: A Report Card on Your Personal Finances
AnnualCreditReport.com
Creditaccuracy.com