MARTINSVILLE, N.J., June 20, 2016 (GLOBE NEWSWIRE) — When it comes to finance, numbers clearly matter. However, one of the most powerful within the realm of personal finance is a three digit indicator that shows just how worthy of a borrower an individual is – the notorious credit score. We have all heard about it, but what exactly is this and how is it comprised? According to Ken Schapiro of Condor Capital Management, it is a three-digit number that is generated from information collected by credit agencies and paints a picture of how healthy someone’s finances are. By taking a look at this score, lenders have an initial indication on whether or not to extend credit to you for such things as a mortgage or car loan. In addition, if you are approved for credit, your credit score will also be utilized to determine the interest rate that you are charged. Generally speaking, Schapiro says that a good credit score to target is 720 or higher, though all lenders will have different standards to determine what score is optimal for the extension of their services. With so many factors to consider, it is increasingly important to build a strong credit history and work to increase your credit score over time. However, in order to consider ways to increase a credit score, it’s important to know what goes into a credit score is.