Your credit score is a ranking, not a score

Yuliya Demyanyk

Economic Commentary, 2010, issue Nov

Abstract: With credit scores affecting so many important aspects of our lives, it?s no wonder that people are concerned with improving their scores. Once they start to pay attention to them, though, consumers often find their scores changing in unpredictable ways. Knowing that your score is not a rating of your creditworthiness but a measure of where your creditworthiness ranks relative to everyone else is the first step in understanding your score and how to manage it.

Keywords: Consumer credit; Credit ratings (search for similar items in EconPapers)
Date: 2010
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