Credit plays a role in everything from buying a home, to signing up for cell phone service or utilities, to getting car insurance. A credit score is a snapshot taken by the three leading credit bureaus, TransUnion, Equifax and Experian, that allows lenders to determine whether or not you will be extended credit, the amount of credit and even the terms (interest rate, loan amount, repayment schedule). What is a credit score and how is it calculated? A credit score is a number between 300 and 850 that is used to predict how likely you are to pay your bills. (11 comments)