What do my credit score and credit rating mean?

A credit score is a three-digit figure, often ranging from 300 to 850, that is intended to indicate the credit risk that you pose, also known as the chance that you will pay your debts on time. Higher ratings indicate that you have shown responsible credit conduct in the past, which may make prospective lenders and creditors more confident when analyzing a request for credit when the request comes from you.

The ranges of credit scores might vary depending on the credit scoring methodology that is used; nevertheless, they are often comparable to the following: Poor, Fair, Good, Very good, and Excellent.

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