credit rating

Related Terms
Evaluation of the timely repayment ability of an individual, firm, or debt security (such as a bond). Credit rating is built up on the basis of the (1) credit history, (2) present financial position, and the (3) likely future income. Credit reporting agencies, such as the US firm Dun & Bradstreet, collect, store, analyze, summarize, and sell such information. Also called debt rating.

Use 'credit rating' in a Sentence

My husband and I were going to get a new car, but we were denied because my husbands Credit Rating was too low.
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Before I could buy a house, I had to look into my credit rating which was really bad right now and could prevent me from getting it.
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If you have a good credit rating you will be able to take advantage of getting loans to help grow your business.
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Notable Quotable

Your Credit Rating and Financing a Startup
"If you're starting a business and will need financing, keep your own credit record in good shape. If you apply for a business loan, the lender will likely review the personal financial statements of the main owners of the business. Concerns about the financial skills of the owners can raise the interest rate on a business loan."
- FDIC


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