Credit Score Facts and Stats

Everything you need to know about credit scoring.

There are all kinds of numbers in your financial portfolio, but your credit score might just be the most important number you have. Your credit score affects your borrowing potential, your ability to manage a budget around high interest rates and even your ability to rent property and get services like a new mobile plan or a rental car. Without a good score, you simply have a harder time making life happen.

With that in mind, we’ve put together the following information to help you understand your credit score and how scoring works. We also explain why you can have multiple scores at one time and what this means when you go to apply for a loan or new line of credit. If you have questions, call us at 1-888-472-0358.

FICO is top-dog when it comes to credit scoring – after all, they invented the credit score model and are still used in over 90% of lending decisions. So it’s important to know how a FICO score is calculated and what you can do to ensure you have the highest score possible. Learn what you need to know to maintain a good FICO credit score.

If you’ve ever applied for a loan – particularly a mortgage – you may have heard the term “tri-merge” and wondered what it meant. Wonder no more! We explain what a tri-merge is and how lenders and underwriters use a tri-merge credit report and credit score to assess your creditworthiness.