How credit scores work?

Your credit score is a three-digit number that represents your creditworthiness to lenders and creditors. It is based on information from your credit report, including your payment history, credit utilization, length of credit history, types of credit used, and recent credit inquiries.

Credit scores range from 300 to 850, with higher scores indicating better creditworthiness. A good credit score can help you qualify for lower interest rates on loans and credit cards, while a poor credit score can make it difficult to obtain credit or result in higher interest rates and fees.

At HY Credit Solutions, we can help you understand how your credit score is calculated and identify areas where you can improve your score. We’ll work with you to create a customized plan to address any issues and help you achieve your financial goals.