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Answered 2009-03-11 14:48:47
When you have all three credit scores pulled, most creditors look at the middle score. If you have onloy two credit scores pulled, they will use the lowest one.
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How do you define credit score?
More often than not, potential creditors look at your FICO score. Other companies offer `credit scores' that use varying algorithms to determine your `score', but they may vary widely from your true FICO score.
How is a FICO Score different from a Credit Score?
FICO stands for Fair Isaac Corporation, which is a company that calculates the credit score that most creditors use to determine your creditworthiness. So, your FICO score is a type of credit score. They use the information that each of the three credit bureaus (Experian, Equifax, TransUnion) possess on each consumer, and they turn that information into your FICO score. However, there are many other companies, including the credit bureaus themselves, the create their own versions of your credit score, and these scores are often different than your FICO score, since they are not using the same mathematical calculations to come up with your score.
Where can I get an online credit score check for a job?
There are three main credit bureaus to contact for you credit score. This would be Esperian, Transunion, and Equifax. All three will give you a most rounded average to use on any credit application or proposal, granted that it is a decent score.
How do you find one of the three credit bureaus to check your credit score?
There are no "local" credit bureaus but to check your score through one of the three major credit bureaus use the internet to search for free quotes. Also if you already have some identity theft insurance or coverage they often offer a once a year free credit score report.
Does not activating a credit card harm your credit score?
No, but it doesn't help your credit score either. In order to build and maintain your credit score, you need to use credit on a monthly basis.
Where can I get good advice about my credit score?
You can go to irs.gov and use your credit score to help you with your credit score questions. You can also go to your banking institution and have them use their repayment calculator as well.
What does a 667 credit score mean?
A credit score of 630–689 is generally considered to be fair credit score, 700 or above is generally considered to be a good credit score.
How do banks use your credit score?
Banks use your credit score so they can see if you have a history of paying back what they loan to you.
What number is a score?
A credit score is a credit evaluation rating. The British use score to mean the number twenty, as well.
Does a business credit card affect credit score?
All loans and credit cards have an affect on your credit score. Failure to use your credit cards responsibly will reduce your credit score and increase your interest costs.
Will your credit score affect your child credit score?
No, not unless you fraudulently use your child's identity in obtaining credit in their name.
Why creditors use accounting information?
Creditors want to evaluate before granting credit to company that will company be able to return back credit when maturity time arrives.
Will using a credit counselor help or hurt your credit?
AnswerOnce you employ the use of a credit counselor a notation to that effect is made on your credit score. This, in itself, is a neutral notation and does not affect your credit score. It is the credit score which determines your credit worthiness but there are some creditors who will view this notation in a negative aspect. Most creditors will look only at the credit scores, but whether credit counseling helps or hurts your credit depends on how an individual creditor views credit counseling. AnswerIndirectly. A credit counselor will work with you to help you reduce your debt and manage your financial life more effectively. Beware fly-by-night operations that scam people out of money under the guise of financial management.Reducing your debt and maintaining financial control over your life will help your credit in the long run.
How can you get a line of credit with no credit score?
google : "establish credit" Or use a credit restore company - they can help as well and get you off on a great score ;) Wayne
Where could one get a free Fico credit score?
Fico credit score can be found at MyFico. In there one can get information about his credit score as well as about his credit reports, all onine. The use of the site is for free.
What credit score do you need to get a walmart credit card?
what credit bureau does discover use
How do credit cards influence credit scores?
If you use the card sensibly... by paying off any purchases quickly, and don't need to increase your limit (unless the card-issuers offers it) - using credit cards properly is a great way to boost your credit score. If you use it responsibly - it shows potential creditors that you are a trust-worthy prospect.
What is a credit report and what is a credit score?
A credit report is a list of your credit accounts with different creditors stating your payment history with them. A credit score is made up of different items on your credit report using an algorithm including payment history, credit length, debt to limit ratio, credit types, and inquiries.A FICO credit report has 5 components that are used to determine your credit score:Payment historyPercentage of available credit in useLength of time (how long each account has gone since the last action, and the age of each account has been open)Amount of new creditVariety of debt
How do you get your credit score without a credit card?
There's no need to have a credit card to get your credit score. You can use various web based services in order to get your credit score for free -- no credit card required. See the source links for links to sites that can help provide more information on checking your credit score.
Which credit score is used by lenders most frequently?
Mortgage companies use your FICO score, Credit card companies use you Advantage Score which is a different scoring formula from FICO
Why do creditors receive a different fico score than the ones we can personally obtain ourselves from various credit monitoring websites?
There are three diffent scores reported it depends on what one they use. All so it the scores can change daily depending on your balances and late payments. If you want a complete credit report look for a Tri-Merge credit report it will run you $20-30
What is the credit score you start off with if you have no credit?
If you don't have credit, you **can't** have a score, since they are solely based on your use of your credit. The bureaus return a report saying "no credit information on file".
Where can one get a free credit score report?
People can get a free credit score report from many different websites. People can go to Credit Report website for a free credit report. Also, they can use Free Score Online site to get a free credit score report.
How would someone monitor their own credit?
There are three large credit bureaus that people can use to keep an eye on their credit: Equifax, TransUnion, and Experian. Each bureau has its own credit score. Therefore, people monitoring their credit should check each. Depending on which bureau is checked, the score may be different.
Where can a person go to find out their credit score ratings?
There are a number of websites one can use to find out their credit score ratings online. One can get such information from 'Experian', 'Equifax' and 'Credit Score Ranger'.
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