By: Sunny TH Tan

In the United States, one of the most common discussions amongst its people would be related to credit scoring. Reason behind this is because the score achieved by any consumer would greatly affect the amount of mortgage, loans and many other financial related services.

To put it simply, a credit score is similar to a report card (I know, we have all been through that) where you would get a good nagging for something low and reward for a high score.

Contrary to what many people believe, there is no one universal way of categorizing credit score where the last time you took an extra 5 pennies from the cashier would be recorded on your credit score.