Definition of a Credit Score?

Answer It has been said that your credit score is more important than your SAT score. While the SAT determines the caliber of college you attend, your credit score or FICO score (named after Fair, Isaac, ... Read More »

Top Q&A For: Definition of a Credit Score

Will canceling credit cards with high available credit hurt my credit score?

Closing a credit card with a high available credit limit will lower your available credit, as well as remove some of your credit history. Typically, it does lower a borrower's credit score, althoug... Read More »

What is a good credit score on a credit score scale?

On One Hand: Over 700 on the FICO ScaleThe FICO credit scoring scale runs from 300 to 850, with higher scores signifying a more credit-worthy individual. A score of 700 or higher signifies that you... Read More »

Do lenders use credit score or fico score for mortgage rate?

Lenders use both credit and FICO scores to determine mortgage rates for individual borrowers. Mortgage companies use a "tri-merge" credit report that lists credit bureau scores from Experian, Equif... Read More »

What percentage of people score 990 on the TransUnion personal credit score?

According to the Associated Press in July of 2010, only 18 percent of Americans had a credit score of over 800. The Credit Truth reports that the percentage of Americans with an 800 or above Trans ... Read More »