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What is a credit score?A credit history summarizes your entire credit report information into one number. This number is calculated by way of mathematical equation that evaluates a number of information from your credit history as well particular credit-reporting agency. By comparing this information to the patterns in thousands of past credit history, scoring identifies your level of credit risk. Your score tells a lender how likely that you are to settle a loan, or make credit payments on time. The greater your score is, the greater chance you could have of getting the credit you apply for.
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