Title : Keeping Score When it Comes to Your Credit
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Keeping Score When it Comes to Your Credit

The word credit comes from the Latin word credere, which means to believe. Basically, a lending institution or retail establishment's extension of credit or a loan expresses its willingness to believe in your ability and commitment to repay the debt that you are incurring. Throughout the history of money lending, the determinations regarding an individual's creditworthiness have been made solely on a lender's personal assessment of the situation and statements and documentation tendered by the prospective borrower. Understandably, this was more art than science, leading to the creation of credit scores in the 20th century.
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