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Confused About Ordering a Credit Score?
Posted on Jul 3, 2007 by Michelle Pastor
You’re not alone! Do you know there are 4 different kinds of credit scores? This article on CNN Money.com explains the difference in credit scores and how to get the one you really want.
To make matters more confusing, while all four types of scores are based on the information contained in your credit reports, each uses different formulas for determining your creditworthiness and a different point system.
What's more, lenders favor one score above the others. So if you're going to bother to get one - which is usually a good idea before applying for a loan - why not buy the same score your lender sees?
Tags: credit, creditscore, equifax, experian, transunion
Comments
Tom Fragala on Jul 3, 2007
Good tip Michelle.
For our readers, on June 9th, I wrote a similar blog post on this topic:
http://www.mytruston.com/blog/credit/when_a_credit_score_is_not_a_credit_scor.html
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