What Is Credit Score?
From the SB Advisors Academy money glossary · Free, no signup
A number between 300 and 850 that represents how reliably you repay borrowed money. Lenders use it to decide whether to approve you and at what interest rate.
A worked example
A credit score of 760 qualifies you for a mortgage at a much lower interest rate than a score of 620, potentially saving tens of thousands over the loan’s life.
Category
Part of the "Credit and Debt" group in the money glossary.