Credit Scores
Credit-score terms that explain scoring models, score factors, and the account behavior that can move a borrower up or down.
Credit score pages explain how lenders and other users turn credit-file data into a borrowing-risk shorthand. This section focuses on what a score is, which models are common, and why some behaviors carry more weight than others.
Readers should start here when they want to understand score movement, not just memorize the names of scoring products.
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In this section
- Credit Score
A credit score is a numerical summary of how a borrower's credit file looks from a risk perspective.
- FICO Score
A FICO Score is a specific credit-scoring model family widely used in consumer lending.
- Credit Utilization
Credit utilization measures how much of a borrower's revolving credit limit is currently being used.
- VantageScore
A VantageScore is a consumer credit-scoring model family separate from FICO.
- Payment History
Payment history is the record of whether the borrower has paid credit obligations on time.
- Length of Credit History
Length of credit history describes how long the borrower's credit accounts and file have been established.
- Credit Mix
Credit mix refers to the variety of credit account types appearing in a borrower's file.
- Score Range
A score range is the spread of possible numbers used by a particular credit-scoring model.
- New Credit
New credit refers to recently opened accounts and recent application activity that can signal changing borrowing behavior.
- Thin File
A thin file is a credit file with very limited account history or too little data to show a strong borrowing pattern.
- Good Credit
Good credit is a broad label for a credit profile that generally looks lower risk than average to many lenders and scoring models.
- Excellent Credit
Excellent credit is a broad label for a very strong credit profile that tends to signal lower borrowing risk.