A numerical expression that represents how creditworthy someone is. It's based on an analysis of a person's credit report, which includes information from credit bureaus. Credit scores are typically between 300 and 850 and are designed to represent how likely someone is to pay their bills on time. Creditors and lenders consider credit scores when deciding whether to approve someone for a new account.
A higher credit score could mean someone is more likely to be accepted when they apply for credit, but it's not a guarantee.
Credit scores are calculated based on five factors: payment history, amount owed, length of credit history, new credit, and credit mix.