credit-score

Vocabulary Word

Definition

'Credit-score' is a numerical measure of a person's creditworthiness, basically how good a risk they are for lenders. The better your financial behavior, the higher your credit score, making it easier for you to borrow money or get credit cards.

Examples in Different Contexts

In personal finance, a 'credit-score' is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. A personal finance coach might say, 'Improving your credit-score is crucial for securing loans with lower interest rates and better terms.'

Practice Scenarios

Academics

Scenario:

During our next lecture, we will delve into the role of credit assessments in shaping economic policies and individual borrowing decisions.

Response:

That sounds interesting! The discussion on the complexities of credit scores will surely be enlightening.

Tech

Scenario:

Our aim is to provide more accurate risk assessment for our lending solutions. Integrating advanced predictive models could be a key factor.

Response:

Correct, machine learning can help improve credit score predictions and optimize our lending solutions.