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Credit scores are
more important than the average consumer may realize. The score is used
in all segments of everyday finance; including credit cards, insurance,
and mortgages. Credit scores have become pivotal because the lending process
has become increasingly automated. The determination of a borrower's ability
to repay a loan is left to credit-score based computerized models. The
higher the score, the easier it is to get credit and the better the loan
terms.
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