A credit score is a three-digit number to predict how likely you are to pay back a loan or mortgage on time. Credit scores may be used to set an interest rate, terms for a lending agreement, and in calculating insurance premiums.

There is no single credit score, but the most popular source is FICO which stands for the Fair Isaac Corporation. According to FICO, 90% of the U.S.’s top lenders use the FICO score as their risk assessment, and is used by the top three credit bureaus Equifax, Experian, and TransUnion. A FICO score is determined by the information on a credit report, and since credit reporting may be different at each of the three reporting bureaus you may have a different FICO score at each bureau.

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