credit score is an indicator of a borrower’s ability to make credit payments on time. It is calculated after evaluating multiple information patterns such as your past credit report, loan payment history, current income level, etc. A higher credit score increases your chances of getting a low-interest loan from a financial institution
Before lending money the bank needs to make sure that you don't have any unpaid bills or bad debts. So for that reason, they check your credit ratings.
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