Financial Well Being Check-Up | Credit Score

What is your credit score?

Your credit score (FICO) is an assessment of your ability to repay debt. Banks and other lenders use it to help decide if you will be approved for a credit card or loan. A lower score can make it harder for you to be approved or get the lowest interest rates on a loan. Your credit score is based on your credit history, which includes things like the length of your credit history, percent of available credit used and your payment history.

You can get your credit score in a variety of ways.

This chart from Smart About Money shows the range of credit scores and how lenders view them.
Source: https://www.smartaboutmoney.org/Courses/My-Financial-Well-Being-Plan/Size-Up-Your-Credit-Score

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