I recently started taking a personal finance course, and I’m going to starts writing blog on the the things I learned!
To be fair, I started off before writing these blogs, so I’m just going to start where I am now. I’m currently on the credit score system, so that’s where I’m starting.
The credit score system was developed by Bill Fair and Earl Isaac in 1956. They wanted to know if there was a way to see how likely people are to pay back their loans. They created an algorithm just for this purpose.
Today, we use credit score to see people’s likelihood to pay back loans. Credit score ranges from 300 to 850, with 300 being the lowest, and 850 being the highest. More information about credit score will come in the next post. Thank you for reading!