Article: Like It Or Not, You Have A Score To Settle! (Part 1 Of 2 On Credit Scoring)
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Like It Or Not, You Have A Score To Settle! (Part 1 Of 2 On Credit Scoring)
Just when most people finish with school and can stop worrying about test scores, there?s a new kind of scoring that enters the picture. It?s called credit scoring. And, its impact on your financial future can mean more to you than a college degree.
Why It?s So Important:
Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you?d be a good risk for credit cards and auto loans. More recently, scoring has been used to help creditors evaluate your ability to repay home mortgage loans.
Precisely what is credit scoring?
Credit scoring is a system creditors use to help determine whether to give you credit. Information about you and your credit ...
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