The numbers credit bureaus assign you to measure your reliability in repaying debt. This number can be used in a multitude of areas including appraising you for credit cards, home loans, and even cable subscriptions. The two most common scores are FICO and VantageScore.
The documents created by credit bureaus that detail your credit history. These are sold to interested parties such as lenders, employers, and landlords.
The businesses that collect your credit history and package the data for resale in the forms of credit reports and credit scores. The three major credit bureaus are Experian, TransUnion, and Equifax.
The original and most common credit score used by 90% of lenders.
The second most common credit score, which was created by the three major credit bureaus. This is the score provided by most 'free credit score' sites such as Credit Karma and WalletHub.
8 Simple Moves
1. Request your free credit reports.
And review these for false or fraudulent details. You are legally guaranteed three free credit reports from each major credit bureau at AnnualCreditReport.com.
You may want to pull each report separately. For example, you could pull Experian each January, TransUnion each March, and Equifax each September.
Free Credit Scores & Free Credit Reports With Monitoring
Credit Karma offers two free credit scores every seven days from both TransUnion and Equifax - along with monthly credit report information and a credit score simulator to help you make wise credit decisions.
Money Management International is the world's leading credit counseling service. Call MMI if you are struggling to make your minimum payments on credit cards and personal loans. They also offer budget guides and counseling on other forms of debt.