In order to streamline the decision making process, the lending industry has developed a system which scores the borrower's credit history. The score is seen as predictive of the borrower's ability and willingness to repay the loan. Such scoring gives the lender the ability to give the borrower a rapid credit decision by using automated underwriting software currently available.

There are three major credit bureaus (Experian, Equifax and TransUnion); each has their own system for tracking your credit and determining your score. You can get a free copy of your complete credit report from each by visiting www.annualcreditreport.com. This site was setup by the credit bureaus so you could learn more about your credit score without going through other website that charge money to retrieve your information.