Credit score vs. credit report: All you need to know
Credit score vs. credit report is often most frequently asked queries when it comes to understanding the nuances of your credit health. Let's break down these terms to empower you with the right knowledge necessary for informed financial decisions.What is a credit score?Your credit score is a three-digit number that serves as a quick assessment of your creditworthiness. Ranging from 300 to 900, this score is derived from a complex algorithm that evaluates various aspects of your credit history.The factors include your payment history, credit utilization, length ofcredit history, types of credit, and new credit.A higher credit score generally indicates lower credit risk, making you more attractive to lenders. It's a numeric representation of your financial habits and is crucial when applyi...
