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How Credit Scoring Helps You |
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Credit scores give lenders a fast, objective measurement of your credit
risk. Before the use of scoring, the credit granting process could be slow,
inconsistent and unfairly biased.
Credit scores - especially FICO® scores, the most widely used credit bureau
scores - have made big improvements in the credit process.
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Reading Your Credit Score |
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When a lender receives your Fair, Isaac credit bureau risk score, up to four
"score reason codes" are also delivered. These explain the top reasons why
your score was not higher.
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How Credit Scores Work |
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Along with the credit report, lenders can also buy a credit score based on
the information in the report. That score is calculated by a mathematical
equation that evaluates many types of information that are on your credit
report at that agency.
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Avoid Credit and Charge Card Fraud |
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A thief goes through trash to find discarded receipts or carbons, and then
uses your account numbers illegally. Making sure you don't become the next
victim. |
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