Credit score is a number assigned to you that helps a lender judge your ability to repay a loan.
<h3>What is credit score?</h3>
Credit score is used to determine the ability of a borrower to payback a loan.
Credits score is important as it help to measure the capacity of a borrower to pay back the money lend to him /her based on their past credit score record.
Based on this most loan companies tend to make use of credit score by checking and verifying a borrower credit score before giving out a loan to a borrower as this score will help them to know if the borrower will payback or not.
Therefore, when borrower has a high credit score their is likelihood or tendency that the borrower will pay back the loan .
Learn about credit score here:brainly.com/question/27356339
#SPJ1
