A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. A credit score is primarily based on a 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. Lenders also use credit scores to determine which customers are likely to bring in the most revenue.
How Closing a Credit Card Affects Your Credit Score
Impatient? It May Be Hurting Your Credit Score - The New York Times
Credit Scores and Reports Advertiser Disclosure. Filed Under:. Your astrological sign? The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. On her second date with a man she met through an online dating service, Lauren was surprised when he revealed his credit score over dinner.
More Consumers Complain About Errors on Their Credit Reports
In the netherworld of consumer debt, there are zombies: bills that cannot be killed even by declaring personal bankruptcy. Tens of thousands of Americans who went through bankruptcy are still haunted by debts long after — sometimes as long as a decade after — federal judges have extinguished the bills in court. Paying no heed to the courts, the banks keep the debts alive on credit reports , essentially forcing borrowers to make payments on bills that they do not legally owe.
While being perfect in matters of the heart is vital for the dating world, a good credit score is increasingly leading the hearts of young men and women of all ages: What's your credit score like? Pursuing a romantic relationship with bad credit isn't impossible. But it does close doors a good credit history will open.