Banking
Credit Profile
Also known as: Credit Assessment, Credit Evaluation
Complete assessment of borrower's creditworthiness including score, history, and financial behavior.
Detailed Explanation
Credit Profile is a comprehensive evaluation of your creditworthiness encompassing credit score, payment history, credit utilization, length of credit history, types of credit, and recent credit inquiries. Lenders use credit profiles to determine loan eligibility, interest rates, and terms. A strong credit profile (750+ score, clean repayment history) leads to better loan terms, while poor profiles result in higher rates or rejection.