Definition
Credit Score
A three-digit number lenders use to judge how likely you are to repay borrowed money.
A credit score, typically ranging from 300 to 850, summarizes your credit history into one number. Higher scores unlock lower interest rates on loans, credit cards, and mortgages.
The biggest factors are paying on time and keeping your credit utilization low. Length of credit history, the mix of account types, and how often you apply for new credit also play a part.