A Few Facts About Your Credit Score.
A Few Facts About Your Credit Score. Statistics from your credit report define what your credit score is. Your credit score is not stored with your credit report, but is generated at the time there is a request to your credit report. Why are credit scores used? Anytime you apply for a loan the credit score effectively tells the lender based on a score rating, your ability to repay the loan based on your prior payment history, and your current credit status. Everyone from banks, auto dealers and mortgage companies utilize this method of credit rating to determine the risk....