• A credit score is a three-digit number designed to represent the likelihood you will pay your bills on time.
• There are many different types of credit scores and scoring models.
• Higher credit scores generally result in more favorable credit terms.

A credit score is a three-digit number, typically between 300 and 850, designed to represent your credit risk, or the likelihood you will pay your bills on time. Creditors and lenders consider your credit scores as one factor when deciding whether to approve you for a new account. Your credit scores may also impact the interest rate and other terms on any loan or other credit account for which you qualify.