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What is a credit score?A credit rating summarizes your entire credit report information into one number. This number is calculated by a mathematical equation that evaluates many types of information out of your credit file during this particular credit-reporting agency. By comparing this info on the patterns in thousands of past credit report, scoring identifies your level of credit risk. Your score tells a lender how likely that you are to repay credit, or make credit payments in time. The higher your score is, better chance you've got to getting the credit are applying for.
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