Real Estate Terms Glossary
What is a Credit Score?
Your credit score is a number, typically between 300 and 850, representing your credit and financial standing and ability to get financial assistance, such as loans, from lenders. Note that credit scores are based on numerous personal financial data. Essentially, your credit score determines your ability to repay the borrowed amount in due time. Your credit score may change regularly as you pay down your credit cards, or repay loans.
Examples of Credit Score
- Example 1: Credit score from TransUnion
- Example 2: Credit report from Equifax
Here’s Investopedia’s definition of a Credit Score .