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Credit Score
A credit score is a statistical summary of the information contained
in a consumer's credit report. The most well known type of credit score
is the Fair Isaac or FICO score. This score represents the answer from
a mathematical formula that assigns numerical values to various pieces
of information in a credit report. There are several companies
that can supply you with your credit score for you or your creditors.
Your credit score can be used to determine the risk premium lenders will
require when they decide to lend money to individuals.
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