What is Credit Guide Scoring?

In a nutshell, credit scoring is a statistical method of assessing the credit risk of a loan applicant. The score is a number that rates the likelihood an individual will pay back a loan. The score looks at the following items:

Past delinquencies Derogatory payment behavior. Current level of indebtedness. Length of credit history. Types of credit. How often credit is applied for. Number of credit inquiries.