ALL ABOUT CREDIT > TRAINING

1. What is a Credit Score?

Your credit score is simply a rank-order according to the likelihood that you will pay you credit obligations as expected. Credit scores play a pivotal role in billions of business decisions each year.

Credit scores allow credit grantors to make more profitable, automated decisions regarding prospects, applicants and customers.

There are many different scoring models but the models most used in the credit granting community are the FICO Risk Models commonly known as:

Beacon at Equifax
Empirica at Transunion
Experian/Fair Isaac Risk Model at Experian

NEXT - National Distribution of FICO Credit Bureau Scores >>