A credit score is a 3-digit number that acts as a “snapshot” of your overall credit history and predicted creditworthiness. Lenders reference your credit score as the quickest, easiest way to gauge the overall risk involved in offering you a loan. A high credit score makes it easier to borrow more money on better terms. A low score makes it difficult to borrow at all, and when you do, it means lower limits and higher interest rates.
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