CREDIT SCORES » Current Rates, News & Information

When you walk into a dealership to buy a car, or approach your bank for auto financing, chances are they will be pulling your credit score to see what kind of borrower you are before they approve a loan, or quote you an interest rate. Read More...

Your credit score, or FICO score, is a three-digit number that represents a statistical analysis of your creditworthiness. Your credit score is based on the information in your credit report, which is usually sourced from the three major credit bureaus. Read More...

The credit bureaus keep an invisible paper trail of all of your account activity when it comes to credit and loans. When you make a payment on your credit card, or open a new account, this information is reported to the credit bureaus and added to your credit report. Read More...

Having “good credit” determines whether or not you qualify for a loan, and at what rate of interest you can borrow. Read More...

Banks, credit cards and other lenders use credit scores to evaluate the potential risk of lending money to you. Your credit score determines whether or not you qualify for a loan, and at what rate of interest you can borrow. Read More...

Whether you decide to do a one-time check of a single credit score, or purchase a year’s subscription to monitor your changes in credit data at all three bureaus, or one bureau, depends upon your needs and budget. Read More...

A self inquiry is considered a “soft inquiry” and does not affect your credit score. This is to differentiate it from a “hard inquiry” which is an inquiry that comes from a lender who is inquiring for the specific purpose of extending you credit. Read More...

Using both your credit report and your credit score, lenders will make a determination about your creditworthiness. That is why it’s important, as an informed credit consumer, to know what both of these credit tools are and how they are used. Read More...

When you apply for the credit, your bank, credit card company or mortgage lender uses your credit history to evaluate the potential risk of lending money to you. Read More...

The same information does not always go to all three agencies. Some information may be reported to Experian, for example, but not to Transunion. Read More...