Not exact matches
Your credit score is a good indicator of your overall
creditworthiness, but it doesn't tell
lenders about one important thing: your income.
Your credit score is a good indicator of overall
creditworthiness, but it doesn't tell
lenders about your income.
For example, when a
lender evaluates your
creditworthiness for a term loan, they are looking at a business» credit profile to make a decision
about a loan today.
Consider this; a credit score not only measures
creditworthiness but provides great insight to banks and
lenders about the history and thus the ability and intend to payback debts.
Your credit score is a good indicator of your overall
creditworthiness, but it doesn't tell
lenders about one important thing: your income.
Lenders use your FICO score to make decisions
about your
creditworthiness.
Lenders make decisions
about the
creditworthiness of borrowers based primarily on credit reports and credit scores — two ways to quickly assess an applicant's credit history.
Everything
about your credit score and report is calculated, so remember that most
lenders will take a conservative approach to approving or rejecting a loan applicant based on their
creditworthiness.
You acknowledge, agree, and authorize that (a) your information may be sent to
lenders and / or third - party partners on your behalf, and (b) such
lenders may obtain consumer reports and related information
about you from one or more consumer reporting agencies, such as TransUnion, Experian and Equifax to evaluate your
creditworthiness.
Most of the
lenders we work with are not concerned
about the tricky credit score since they understand that there are more parameters to measure
creditworthiness, so you don't have to fret
about poor credit scores.
The credit reference agencies can not offer an opinion to
lenders on your «
creditworthiness» - they only pass on factual information
about your borrowing history.
So when you apply for other credit products, your potential
lenders contact one of the bureaus and see the updated information
about your
creditworthiness.
They let
lenders make better decisions
about customer
creditworthiness.
Your credit score is a good indicator of your overall
creditworthiness, but it doesn't tell
lenders about one important thing: your income.