What is a credit score?

A credit score is a three-digit number that lenders use to help decide whether or not to give you credit. It is based on your credit report, which is a record of how you have borrowed, repaid, and managed your credit. A credit score is determined by factors such as payment history, the length of your credit history, the types of credit you have, how much you owe, and any new credit openings. A higher credit score generally means you are a better credit risk, and you may have access to better interest rates or loan terms. In Nevada, the credit score is used to determine insurance rates, credit limits, and other terms of credit.

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