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What is a credit score?
A three digit number that lenders use to decide whether or not they want to lend you money.
The higher the score, the better your credit rating. In general, a credit score can range from 300 to 850. Most scores fall within the 600s and 700s. The boundary between a standard loan and a higher cost loan, also known as a subprime loan, is generally considered to be a credit score of 620. A higher credit score generally means you will have an easier time obtaining credit and you should be able to get credit on better terms and at a lower cost than someone with a lower score.
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