A credit score is a numerical measure based on mathematical algorithm to reflect relevant credit profiles and creditworthiness of a data subject.
JCIC credit scores are calculated on credit information within the disclosure period at JCIC. Key factors considered in the credit score include the credit history, the payment history, the amount of money owed, credit applications, and other mix of credit information. JCIC credit scores reflect the latest information in our database, and therefore may change with time accordingly.
Credit scoring increases the consistency and objectivity of credit evaluation by creating a standardized metric of credit risk. However, it is just one measure of the information used by lenders in their credit decision, and does not constitute the sole base for lending decision. Financial institutions are notified of this when making credit score inquiries.