Credit scoring is a system used by lenders to evaluate a person's creditworthiness. It involves analyzing a person's credit history, which includes their borrowing and repayment behavior. A higher credit score indicates that a person is more likely to repay loans on time, making them a more attractive candidate for credit. Credit scores typically range from 300 to 850, with scores above 700 considered good. Factors that influence credit scores include payment history, amounts owed, length of credit history, new credit inquiries, and types of credit used. Understanding your credit score can help you make informed financial decisions and improve your chances of securing loans or credit cards.