What is a Credit Score?

A credit score is a number based on the data in your credit file that shows how likely you are to pay back your loan in a timely manner. It is a simple scoring method that gives lenders insight in to your credit standing - the higher your score, the less risky you are as a lessee. Your credit score helps a potential lender decide whether you qualify for a loan and what interest rate you'll pay.

For more information on credit scores, see our Credit Score Frequently Asked Questions