Frequently Asked Questions (FAQ)

How does my credit score affect me? Your credit score is an important indicator of your financial health. Lenders use your credit score as a major tool to determine: •Whether or not you are a good candidate for a loan. •What type of interest rate you will pay. While your credit score is a key determinant of your creditworthiness, lenders also examine the information on your credit report and your loan application. Regularly checking your credit report enables you to: •Be informed of the most up-to-date information in your credit history. •Correct any inaccuracies, thus ensuring that your credit data is a true depiction of your credit record and increasing your chances of receiving credit under the best possible terms. Why do I need all three credit scores? There are three national credit bureaus that collect information about you, and they obtain credit data independently. So while you might assume that your three credit reports and credit scores look exactly alike, they can actually differ significantly. When you upgrade to all three credit scores, you can easily evaluate and compare the differences.