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11:54 Feb 17, 2009
English to Chinese translations [PRO] Bus/Financial - Finance (general) Additional field(s): Real Estate
English term or phrase:credit scoring
Definition from Investopedia: A statistical analysis performed by lenders and financial institutions to access a person's credit worthiness. Lenders use credit scoring, among other things, to arrive at a decision on whether to extend credit.
If you have an existing credit card, the issuer is likely to look at your credit score to decide whether to increase your credit line -- or charge you a higher interest rate, according to a credit scoring study by the Consumer Federation of America and the National Credit Reporting Association. Bankrate, Inc.
Credit scoring uses, where available, information from a bank's own records and may include data received from credit reference agencies. British Bankers' Association
Credit scoring has been used by some creditors, particularly credit card issuers, for many years as a tool in making credit decisions. Mortgage lenders, however, have only recently begun using credit scoring to decide whether to make a loan and at what price. Federal Trade Commission
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