Length: 4:44 Description: Talks about what effects your credit card, how it is calculated, and how your score can affect how much you're paying.
A credit score is a statistical number that evaluates a consumer's creditworthiness and is based on credit history. Lenders use credit scores to evaluate the probability that an individual will repay his or her debts. A person's credit score ranges from 300 to 850, and the higher the score, the more financially trustworthy a person is considered to be.
It's calculated using 5 factors:
Definition from Investopedia