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Your credit score is a three-digit number that is calculated according to your credit history, including the types of credit based accounts you own, how long you have been managing those accounts, and whether you make your payments on time.

If you’ve ever applied for a loan, tried to open a new credit card account, considered refinancing your mortgage, or even applied for an auto insurance policy, you’ve at least been exposed to the power that your credit score can hold. But how exactly did the concept of credit scores begin and how have credit scores changed over time, finally evolving into the products they are today?

According to recent data, nearly 84% of new cars and over 40% of used cars purchased today are financed with the help of an auto loan. These auto loans typically come with terms as short as 12 months or as long as 108 months, depending on the lender and the type of vehicle purchased.

There are many reasons you might decide to embark on a home renovation project. Whether you’re looking to refresh your kitchen and bathroom or completely update your entire property, you’re likely looking at a significant out-of-pocket expense.

Personal loans can be used for a variety of big or unexpected expenses, often at a lower cost than alternative consumer options, like credit cards. Whether you need a personal loan to fix your car, cover sudden medical bills, or pay for a home renovation project, a personal loan product can give you access to the funds you need with the flexibility to pay it back over time.

Whether you’re looking to buy a home or car, take out a loan, open a credit card account, or even purchase a new auto insurance policy, your credit score will likely come into play. This three-digit number is calculated based on a variety of financial factors, and can influence whether a lender or creditor is willing to work with you.

Do you remember your first bank account? You probably had just one to start with; this account was where you deposited your earnings and withdrew cash. You may have used tools like a debit card and even billpay to make purchases and pay monthly bills.