CREDIT REPORT SERVICE
A credit score is incredibly important when applying for a loan. It has a big say in whether you’ll be approved and how much you’ll be approved for. Find out what a credit score is, how it affects your borrowing power, and how to improve it.
What is a credit score?
A credit score, or credit rating, is a number used to assess how trustworthy you are as a borrower.
Lenders use this score as part of their assessment to determine:
If you’ll be approved for a loan
How much money they’ll lend you
If you can afford the loan repayments
What interest rate you qualify for.