GLOSSARY · DEBT & HOUSING
Credit score
A three-digit number, usually from 300 to 850, that summarises the information in a credit report to predict how likely a borrower is to pay late. Lenders use it to decide whether to lend and at what rate. FICO weights payment history most heavily, followed by amounts owed, length of history, credit mix and new credit.
Also called: fico score, vantagescore, credit rating
COMPUTE IT WITH YOUR NUMBERS
LEARN IT PROPERLY
CHAPTER · ARRIVING AND WORKING ON A VISA · FOUNDATIONSBank Accounts, an SSN or ITIN, and Credit from ZeroCHAPTER · DEBT ELIMINATION STRATEGIES · STRATEGIESHow Credit Scores Work and How to Raise YoursRELATED TERMS
SOURCES
- Credit reports and scores. Consumer Financial Protection Bureau.