15 Facts About Credit score

Credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual.

Credit score scoring is used not only to determine whether credit should be approved to an applicant, but for credit scoring in the setting of credit limits on credit or store cards, in behavioral modelling such as collections scoring, and in the pre-approval of additional credit to a company's existing client base.

Credit score is a number based on a statistical analysis of a person's credit information, which represents the creditworthiness of that person.

The score is calculated from several factors, but practically it analyzes a person's trajectory as a consumer, what includes up to date payments of bills, history of negative debts, financial relationships with companies and updated personal data on credit protection agencies, such as Serasa Experian, Boa Vista, SPC, Quod and Foregon.

Credit score scoring is widely used in Denmark by the banks and a number of private companies within telco and others.

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Credit score scoring is used not only to determine whether credit should be approved to an applicant, but for credit scoring in the setting of credit limits on credit or store cards, in behavioral modelling such as collections scoring, and in the pre-approval of additional credit to a company's existing client base.

The CIBIL credit score is a three digit number that represents a summary of individuals' credit history and credit rating.

CIBIL credit score takes time to build up and usually it takes between 18 and 36 months or more of credit usage to obtain a satisfactory credit score.

The Empirica Credit score is segmented into two suites: the account origination and account management.

Six years later, Compuscan introduced Compuscore PSY, a 3-digit psychometric-based credit bureau score used by lenders to make informed lending decisions on thin files or marginal declines.

Credit score scoring in the United Kingdom is very different to that of the United States and other nations.

Credit score scoring is closely regulated only by the Financial Conduct Authority when used for the purposes of the Advanced approach to Capital Adequacy under Basel II regulations.

Credit score scoring is closely regulated in the UK, with the industry regulator being the Information Commissioner's Office.

FICO scores, the most widely used type of credit score, is a credit score developed by FICO, previously known as Fair Isaac Corporation.

The performance definition of the FICO risk Credit score is to predict the likelihood that a consumer will go 90 days past due or worse in the subsequent 24 months after the Credit score has been calculated.