Building a good credit score

Written by Ami Shukla


When applying for a loan, lenders will conduct a credit check on you. The credit check evaluates your overall credit activity from various credit files which then converts to a number known as a credit score.

What is a credit score?

A credit score assesses the credit risk of the individual. At LCU, we use Equifax to calculate credit scores for loans. Equifax scores can range between 1 and 1200. The higher your score the better your credit score. With higher scores you will be eligible for more loans.  So before you apply for a loan it might be a good idea to build a good credit score.

How to build a good credit score?

Building a good credit history starts with paying your bills on time and avoiding debts. Other things that can influence your credit score may be how many times you have requested for a loan or credit.

If you want to find out more about credit scores or if you would like to find out your credit score check out