This chapter provides an introduction to credit scoring. The chapter is organized as follows. Section 2.2 discusses the use of scores during different stages of the customer cycle, while section 2.3 compares scoring functions based on their characteristics concerning risk type, risk entity, and the score source. Credit bureaus are a popular external reference source for scoring and are discussed in section 2.4. The concept of overruling or overrides is reviewed in section 2.5. The different business purposes of credit scoring are reviewed in section 2.6. Section 2.7 concludes the chapter with a critical review of the limitations of scoring systems.
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