Credit rating - A rating used by banks, insurance companies, mortgage companies and other financial institutions making loans which they use to judge an individual or company"s credit worthiness.Depending on how many points the applicant gets when his/her personal details are run through the rating system, the financial institution will either accept or reject the risk.Financial institutions rely on highly computerised credit rating systems, and co-operate with each other in providing details of bad credit risks. Hence the concept of the "black list".
Credit rating : a rating used by banks, insurance companies, mortgage companies and other financial institutions making loans which they use to judge an individual or company"s credit worthiness.depending on how many points the applicant gets when his/her personal details are run through the rating system, the financial institution will either accept or reject the risk.financial institutions rely on highly computerised credit rating systems, and co-operate with each other in providing details of bad credit risks. hence the concept of the "black list".
Credit rating