What is a Credit Score?
A credit score is a 3-digit number lenders use to determine an individual's creditworthiness. The number ranges between 300 and 850, with 300 being the lowest score, and 850 the highest.
The Fair Isaac Corporation (FICO®) developed this scoring model that calculates a score used by the three major credit bureaus (Experian, Equifax, and TransUnion.)
Lenders use your score to determine different credit offers and interest rates. As you increase your score, you will receive lower interest rates and save more money!
See Also
Credit Cards