credit scores

The definition of credit scores are three digit scores assigned by credit bureaus based on the information contained in a credit report, such as account balances and payment history, which are used by lenders to determine if you are a good risk for a loan.

(noun)

  1. An example of credit scores are the scores given by Equifax, TransUnion and Experian that banks use to determine whether they should lend you money.
  2. An example of a credit score is the FICO score created by a company called Fair Isaac.

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