Credit Score

Business / Loan / Credit Score: This is a number that is supposed to show the lender how likely you are to repay a loan--whether you are a good or poor credit risk. This score can be a very big factor in determining whether you will get a loan, from whom, and what interest rate and fees you will be charged for your loan. The score is generated by a mathematical formula that considers your credit reports and other factors. It may also be referred to as FICO score (Fair Isaac Company) or Beacon score or some other name-these are companies that create credit scores. (See Chapter 6 in The Complete Guide to Your Real Estate Closing.)

Other Words for Credit

Credit Noun Synonyms: belief, faith, trust, credence
Credit Verb Synonyms: ascribe, acknowledge, attribute, assign, impute
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Other Words for Score

Score Adjective Synonyms: nick, groove, scratch, line, mark, stroke, notch, cut, nock
Score Verb Synonyms: record, account, reckoning, register, tally, amount, number, count, sum, total, mark, grade
Score Noun Synonyms: music, accompaniment, full or short or vocal score
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FICO® Score

Business / Taxes / FICO® Score: Created by the Fair Isaac Corporation, FICO® is the best-known credit scoring system in the US. Based on the information in your credit report, your FICO® score is calculated using complex, propriet MORE

Credit Repository

Business / Real Estate / Credit Repository: Organizations that maintain and make available public credit history records, lenders use information from credit repositories to derive credit scores for potential borrowers. MORE

Credit Report

Business / Accounting / Credit Report: Financial information collected by businesses and used by lenders to determine creditworthiness of individuals. This information contains an individual’s personal and employment history, as well as MORE

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