A numerical value that ranks a borrower’s The ability of a person to borrow money, or buy goods by paying over time. Credit is extended based on a lender’s opinion of the person’s financial situation and reliability, among other factors. More risk at a given One percent of the amount of the mortgage loan. For example, if a loan is made for $50,000, one point equals $500. in time based on a statistical evaluation of information in the individual’s Information in the files of a credit bureau, primarily comprised of a list of individual consumer debts and a record of whether or not these debts were paid back on time or “as agreed.” Your credit history is called a credit report when provided by a credit bureau to a lender or other business. that has been proven to be predictive of loan performance.