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Credit Score
Personal
WHAT IS IT?
A credit score is a numerical or rating-based indication used by a credit reference agency to summarise information in your credit report.
IN PLAIN ENGLISH
It is one part of the information lenders may consider when assessing an application.
SIMPLE EXAMPLE
Your credit report can contain information about borrowing and repayment history. Different lenders use their own criteria when making decisions.
WHY DOES IT MATTER
Understanding your credit report and keeping information accurate can help you understand how your credit history is presented to lenders.
THE ROCKET TEST
Your credit score summarises parts of your credit history, but a lender makes its own assessment.
SEE IT IN ACTION
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