CRC Score (Individual)
The CRC Score is a 3-digit number, ranging from 300 to 850, that summarizes how risky it is for a lender or creditor to grant credit to a prospective borrower or customer. The lower the credit score the higher the level of riskiness or probability that the customer may default in payment.
It indicates that your customer's credit status is either; excellent, good, average or poor. Therefore, the higher the credit score, the lower the level of risk associated with the prospective borrower or customer repaying or defaulting.
Lenders and creditors often use the CRC Score for various risk assessment purposes ranging from market expansion, pre-qualification of customers, to credit evaluation.
The CRC Score was developed in collaboration with Fair Isaac Corporation (FICO), an American company with over 50 years of experience in data and analytics.
Over 100 billion FICO Scores have been sold to date in more than 90 countries, making it the most widely used credit score in the world.