Credit Restoration Question, Facts, & Answers.
What is a credit score?
Your credit score is a number that represents your overall credit worthiness. How high - or low - your score tells a potential lender how likely you are to pay back the loan you are applying for. Your credit score can affect a lender's decision to lend your money, or can even determine the interest rate of your loan. Knowing your credit scores lets you know where you stand with your own credit, and can help you make more informed financial decisions.
How are my credit scores calculated?
The credit scores provided are developed by an independent credit scoring company using advanced statistical techniques and sophisticated analytical methods. These credit scores are based on your data from the three major credit bureaus - Experian, Equifax, and TransUnion. Although different from the scores lenders use, they use the same credit bureau data and are intended to reflect common credit scoring practices.
What is considered a good score?
How often will my credit scores be updated?
Do I really need to check all 3 credit scores?
It is important that you know all 3 of your credit scores as they can vary widely. Checking your 3 scores based on your information from the top 3 credit bureaus can help you better understand your credit before applying for loans, jobs, and insurance.
Will checking my own credit lower my credit score?
Shouldn't my credit scores be the same or close?