Credit Score Is Direct

A credit score is a three-digit number ranging from (in Canada) or 300 to 850 (in the US) that represents your creditworthiness. It serves as a tool for lenders—such as banks and credit card companies—to predict how likely you are to repay borrowed money on time. 1. How Credit Scores Are Calculated

Your score is derived from data in your credit report using algorithms from agencies like , TransUnion , or FICO . The major components typically include: Credit report and score basics - Canada.ca credit score is