The Pinnacle Score is a credit scoring method developed by Equifax.
The exact algorithm is kept in the strictest confidence, but factors such as credit history, late payments and the number of open credit lines will play a role in your score.
A higher credit score tells lenders or other entities that you are at favorable credit risk, while a low score may prevent you from accessing credit or demanding higher interest rates.
Paying off delinquent invoices, keeping your credit utilization below 30%, and limiting the number of requests on your report can all help improve your Pinnacle score.
Each bureau has its own scoring methodology based on the original FICO scoring method.
Good credit is a classification of a person’s credit history, indicating that the borrower has a relatively high credit rating and is a safe credit risk.
Bankruptcy is a legal proceeding carried out in order for individuals or legal entities to be freed from their debts, while at the same time providing creditors with the opportunity to repay them.
A debtor in possession (DIP) is an individual or entity that has filed for Chapter 11 bankruptcy protection but still owns property that creditors have legal claims under a lien or other lien.