Credit Score Basics, Part 1: What’s Behind Credit Scores?

Date: September 29, 2011

Today, credit scores are often used synonymously as an absolute

statement of consumer credit risk. Or, credit scores are so

misunderstood that they are viewed as a de facto measurement of

borrowing strength and mistakenly seen as including assets, income or

net worth in the calculation. Consumers are regularly advised that the

three digit credit score is important to their financial well-being. It

is not uncommon to hear people boast of excellent credit scores or

anxiously ask for help when their scores are low. However, a wide

knowledge gap exists about credit scores. The gap is most significant

among consumers, but also exists across the entire spectrum of credit

score users…

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