What does a credit score represent?

A credit score serves as a numerical representation of a borrower's creditworthiness, which is a key measure used by lenders to assess the likelihood that a borrower will fulfill their financial obligations. The score is calculated based on several factors, including payment history, credit utilization, length of credit history, types of credit used, and new credit inquiries. This numerical value helps lenders make informed decisions about whether to extend credit, the amount they are willing to lend, and the interest rate they will charge.

In contrast, the other options do not accurately describe what a credit score indicates. While an individual's income may be relevant for other aspects of financial assessments, it is not directly reflected in the credit score. Additionally, the total debt owed relates more to an individual's financial situation rather than their creditworthiness, and an assessment of savings account performance involves evaluating different metrics unrelated to the concept of credit scoring. Therefore, the correct answer emphasizes the role of the credit score in gauging a borrower’s reliability in managing credit.