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The CIBIL credit score is a three digit number that represents a summary of individuals' credit history and credit rating. This score ranges from 300 to 900, with 900 being the best score. Individuals with no credit history will have a score of −1. If the credit history is less than six months, the score will be 0.
Kreditech used a self-learning algorithm which analyzes big data.It calculated an individual's credit score in seconds using up to 20,000 data points. [4] Kreditech uses location-based information (GPS), social networking information (likes, friends, locations and posts), hardware data (operating system, browser, etc.), online shopping behavior and general online behavior in order to determine ...
Credit references are used to help lenders quantify the risk of lending to a given applicant or to determine overall creditworthiness. For example, if an applicant's credit history indicates proper, timely payments on all outstanding obligations, a lender may judge it more likely that the applicant will make timely payments on the requested loan .
Credit score in the United States. A credit score is a number that provides a comparative estimate of an individual's creditworthiness based on an analysis of their credit report. [1] It is an inexpensive and main alternative to other forms of consumer loan underwriting. Lenders, such as banks and credit card companies, use credit scores to ...
A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting. [1] The credit rating represents an evaluation from a credit rating agency of the qualitative and ...
A credit score is primarily based on a credit report, information typically sourced from credit bureaus. [2] Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt. Lenders use credit scores to determine who qualifies for a ...