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Credit Score FAQ

What is a credit score?

A credit score objectively presents the financial credit risk and default probability of a designated individual in a numerical form, thereby estimating the likelihood of the credit score holder defaulting on future repayments.

Nova Credit Credit Score Chart

The NOVA credit score is calculated based on sophisticated statistical models and 5 main categories of information in credit reports, including payment history, debt burden, new account, credit mix and general /enquiry record.