A personal credit score is a numerical representation of an individual's creditworthiness, which is used by lenders, creditors, and financial institutions to assess the risk associated with lending to that person. It reflects an individual's credit history, financial behavior, and ability to manage debt. Personal credit scores play a crucial role in determining whether someone is eligible for credit, such as loans, credit cards, mortgages, and the terms and interest rates offered.
Updated over 8 months ago