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What is a credit score?A credit rating summarizes all of your credit profile information into one number. This number is calculated by way of mathematical equation that evaluates various types of information out of your credit report at that particular credit-reporting agency. By comparing these records on the patterns in 1000s of past credit report, scoring identifies your level of credit risk. Your score tells a lender how likely you happen to be to financing, or make credit payments on time. The greater your score is, better chance you have to get the loan you apply for.
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