Creditworthy generally means characterized having as acceptable credit rating. The particular rating required to be considered creditworthy will vary by entity. Being creditworthy is indicative of being a responsible borrower, so that the likelihood of having a loan application accepted is increased.
The following is an example of a bank's definition of creditworthy:
Creditworthy is defined as having an established, satisfactory credit history; stable residence, income, and two-year employment history; and be a U.S. citizen or permanent resident that has been residing in the U.S. for the previous two years. If a student is applying as a creditworthy applicant, they will need to submit a letter from their employer stating expected continuation of income while enrolled in school.
