Essentially, a credit score is a number ranging from 300 to 850 to help lenders determine the likelihood that you’ll pay your loan back to them.
Some common factors when determining your credit are: - Paying Your Bills - Your Debt - Credit Card Usage - Credit and Loan Applications
- Age - Race - Religion - Nationality - Gender - Marital Status - Salary and Occupation - Where You Live - Soft Credit Inquiries
There are many online options to see your credit score, and many are free.
Having a good credit score can be beneficial for several reasons. A higher credit score can also make the terms of any new loan better for you.