About Your Credit Score

After receiving many queries about credit scores I decided to post some information about what they are and what they are based on. If you check
your credit score and see that none are the same it is because not everyone takes the time to report to them individually . They usually report to only one and hope the others pick it up. Some may have removed an entry and others may have added onto your score. Please remember you have the right to dispute anything you find on your report that you think doesn't belong.

-- What is a credit score? --
A credit score is a numerical ranking system that lenders use to determine how much of a credit risk you are. A credit score is a numeric indication of how likely you are to repay debts such as loans or lines of credit. Lenders use this number to determine how much of a credit risk you are.

Credit scores also are designed to indicate your creditworthiness in comparison with other consumers.

Credit scores are based on the data in your credit report and are generated by computers using artificial intelligence. Usually a credit score is between the numbers 300 to 900. The higher your score, the more "creditworthy" you are to lenders.


-- What is my credit score based on? --
Credit scoring is based on many factors that may include:

Amount of available credit
Payment history
Recent requests for credit
Amount of credit currently being used
Length of credit history

Under the Equal Credit Opportunity Act, credit scoring may not use gender, martial status, national origin, race, or religion as factors.