Basically there’s some opaque formula companies use to figure out your score based on how often you use your credit cars/take out loans, how regularly you repay them, etc. This in turn affects your ability to get loans. Like if you want to buy a house or a car, they’ll check your credit score, and if it’s not high enough then they won’t float you, etc.
Basically there’s some opaque formula companies use to figure out your score based on how often you use your credit cars/take out loans, how regularly you repay them, etc. This in turn affects your ability to get loans. Like if you want to buy a house or a car, they’ll check your credit score, and if it’s not high enough then they won’t float you, etc.