What is a Credit Reporting Agency? Short answer-a data warehouse. Companies who wish to extend credit to consumers voluntarily report information to one or more of the Credit Reporting Agencies. Equifax-Experian-TransUnion. Lenders provide the following information to the Reporting agencies
Can I access this information? You are eligible for a free copy of your credit report from each of the 3 major credit reporting agencies, Equifax, Experian, and TransUnion annually. To request a copy visit: www.annualcreditreport.com Note this will not include your FICO score. |
What is a credit score? Your score is an algorithm derived number that takes into account your credit information and give lenders a snapshot of your creditworthiness. I already know my score. I got it from
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What Score do the Lenders use?
Mortgage Score-FICO Classic
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