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A credit score is a weighted number computed to determine your credit worthiness, and is relevant when arranging for credit or a loan. This tag is to be used for questions related to understanding how things would impact your credit score. Related tags are credit-history, credit-rating and credit-report.
2
votes
Would making extra payments toward the principals of my loans improve my credit score?
For credit cards or other products where you have a line amount and a balance, if you lower the balance, you free up available line. This factors into the "utilization ratio", and if you have a lower …
2
votes
Accepted
How to finance a car when I have credit history but no active credit cards or loans
Get a copy of your credit report to double check, but it sounds like you are correct: if you have no tradelines, there is less evidence of willingness to repay (credit score is a measure of willingnes …
5
votes
Why do Credit Card companies reduce credit lines?
Part of the story here is that Wells Fargo is subject to a $1.95T asset cap (from the Fed following on that 2016 account opening scandal). They have to be choosy about assets as they sit right at that …