Why Do Credit Reports Vary
2010
question on credit score, please clarify?
hi
please help me understand how does the credit score works…
i have a score of 697 and i thought its good, but it says am fair..
also,what is the highest credit score one can have …..is it 800 or 830
also, why does the credit score varies between equifax, transunion and various other credit reporting agencies…
FACTA defines a “credit score” as:
A numerical value or categorization derived from a statistical tool or modeling system used by a person who makes or arranges a loan to predict the likelihood of certain credit behaviors, including default (and the numerical value or the categorization derived from such analysis may also be referred to as a “risk predictor” or “risk score” (FCRA §609(f)(2))
So you can see, it ain’t easy to figure out how the heck they do it. It all depends upon who wrote the software they are using and what they have on file. But your score will rise as long as you pay your bills on time and have no judgments against you.
Hope this answers your question
Do I really need credit repair services?
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