A credit score, locally known as Tadeeq score, is a numerical representation of an individual’s ability to pay loans back. In Pakistan, it is a three-digit number that ranges from 200 to 600, with a higher score indicating better creditworthiness.
Credit scores are used by lenders, credit card companies, landlords, and others to assess the likelihood that a borrower will repay their debts on time. Credit scores take into account various factors such as payment history, outstanding debt, length of credit history, and types of credit used. Having a good credit score can make it easier to get approved for loans, credit cards, and other financial products, while a poor credit score can make it harder and more expensive to borrow money. You can get your credit score for free by signing up at www.faidafaida.com