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What is a credit score?A credit standing summarizes all of your credit profile information into one number. This number is calculated by way of a mathematical equation that evaluates various information out of your credit file at this particular credit-reporting agency. By comparing this data on the patterns in a huge number of past credit reports, scoring identifies your level of credit risk. Your score tells a lender how likely you're to repay a borrowing arrangement, or make credit payments promptly. The more expensive your score is, the better chance you've of getting the credit are applying for.
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