What is credit rating and how it is determined?

Discussion in 'Growing and Managing a Business' started by perfectionj, Jun 22, 2012.

  1. perfectionj

    perfectionj
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    What is credit rating and how it is determined?
     
  2. creditreport

    creditreport
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    Credit rating is the number that is used to determine what could be the credit limits and the interest rates. It serves as a guideline for potential lenders before serving loan or credit to a person. Basically what they are usually referring to is Credit score report. Many factors are used to determine credit rating like payment on time, use of credit limits, credit history status etc. Credit rating will be good if you have good credit history.
     

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