What exactly is a credit score?
A credit score is a three-digit number that lenders use to determine what kind of credit risk you may be. Many companies use a FICO® score (which can range from 300 and 850) to determine how much, if any, credit to lend an applicant. The higher your score, the less of a risk you are to the lender, the lower the score, the lender may determine that the risk of you defaulting or paying late on the loan is too much to extend credit.
