Credit Score

The credit score is a numerical expression based on statistical analysis of an individual credit files, to represent the creditworthiness of that person. A credit rating is based primarily on data from a credit report usually comes from credit bureaus

Lenders such as banks and credit card companies use credit assessments of the potential risks of lending money to consumers and to assess the losses from bad loans to weaken. Lenders use credit ratings to determine who can get credit limit at what speed and what credit limit. Lenders also use credit ratings to determine which customers can bring the greatest revenue. The use of credit scoring identity before granting access or making loans to implement a reliable system.

Credit rating is not limited to banks. Other organizations, such as mobile phones, insurance companies, employers, landlords, and government agencies use the same techniques. Credit rating also has a lot of overlap with data mining, many of the techniques used

A U.S. credit rating is a number that represents the creditworthiness of a person or a person likely debts. It is shown that prediction of risk made more affordable loans to consumers and reduce the cost of providing credit. A credit score is primarily based on statistical analysis of the creditworthiness of a person to report information, typically from the three major U.S. credit bureaus: Equifax, Experian and TransUnion. Lenders such as banks and credit card companies use credit assessments of the potential risks of lending money to consumers and to assess the losses from bad loans to weaken. Using credit scores, lenders determine who is a loan which qualifies for interest rate and what credit limit. Fair Isaac Corporation, also known as FICO, the first credit scoring system in 1958, U.S. investment and the first credit scoring system credit card bank in 1970, the U.S. bank and trust.