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What is a credit score?A credit standing summarizes your whole credit file information into one number. This number is calculated by the mathematical equation that evaluates various information from a credit profile during that particular credit-reporting agency. By comparing this information on the patterns in 1000s of past credit file, scoring identifies your height of credit risk. Your score tells a lender how likely you're to repay that loan, or make credit payments punctually. The greater your score is, the greater chance you could have to get the loan you apply for.
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