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Credit score is used to determine your financial worth ?
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26 votes
Credit score is used to determine your financial worth ?

User Scott Christopher
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17 votes
17 votes
The higher the score, the better a borrower looks to potential lenders. A credit score is based on credit history: number of open accounts, total levels of debt, and repayment history, and other factors. Lenders use credit scores to evaluate the probability that an individual will repay loans in a timely manner.
User James Hao
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25 votes
25 votes

Answer:

Step-by-step explanation:

I live in Canada.

I have been told that my credit score is quite high. That's because I don't live beyond what I can pay for with this month's paycheck. I don't think anyone would judge my net worth by my credit score. In fact, bank loans won't think of stopping at credit rating. They (in Canada at least) would never think of giving out a loan whose repayment per month exceeded 1/3 of my paycheck.

Maybe I just have a tough bank, but I certainly agree with their policy.

User Audwin Oyong
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