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Is 696 A Good Credit Score – Why Your Credit Score Is Important | TransUnion


Is 696 A Good Credit Score – Whats The Best?

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Ever ask yourself what is a credit score, and why is it important? Your credit score could make the difference when making life’s important purchases. From your dream home to your dream car—it’s one of the most critical things that can make or break your purchasing power. Credit scores don’t have to be complex. In this video TransUnion takes away the ambiguity and walks you through a credit score definition and explains why a credit score is important.

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(Partial Transcription)

Most everybody knows by now a credit score is something a lender might look at when considering you for a loan. Here’s a simple way to look at it:

A credit score is a number. That number is calculated using a formula that evaluates: how you pay your bills, how much debt you carry, and how all of that stacks up against other borrowers.

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