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What is a credit score?A credit score summarizes your whole credit file information into one number. This number is calculated by the mathematical equation that evaluates many types of information through your credit report during this particular credit-reporting agency. By comparing this data for the patterns in thousands of past credit reports, scoring identifies your level of credit risk. Your score tells a lender how likely you happen to be to repay that loan, or make credit payments promptly. The greater your score is, the higher chance you've got of having the financial lending you apply for.
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