What Is The Best Credit Score Site – 6 Questions To Ask

You ever noticed that if you check credit karma and compare it to other credit score sites, its doesn’t seem to be that accurate.

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1. Types of Credit Reports and credit scores
– Fico Score or Fair Isaac Corporation:
– Transunion
– Equifax
– Experian
– Vantage score

It’s important you know this:
– Because every lender is different and they might consider one score more than the other to make a decision
– So if you want to go to the lender that uses the score you’re currently best in
– And the reason he scores is different is that the method they use to come up with your credit score is different

For example:
– I had a friend who wanted to qualify for a house he wanted to rent
– But the landlord was tough about the credit score although he made a decent amount of money
– Well he just went ahead and use the highest credit score he had to give it to the landlord and she didn’t bother to check his other scores

So don’t overthink this: just find out who the lender uses and who they consider the most.

2. How to get the most accurate Report and Score
– Usually, you can only get it once a year but from the official credit report site
– But because of the pandemic you will be allowed to access it for free weekly until things settle down
– Experian, Transunion, and Equifax

Keep in mind:
– Credit reports are the meat and the credit score is the number they give you based on the information ( usually from 300-800 or sometimes 850 )
– And the way credit karma gets your information is by constantly doing soft inquiries to find out your credit score
– But my fico score is not free, TransUnion is not free, Equifax and Experian are free ( but if you want the information from the source then you gotta pay), but the estimate is good enough)

Annual Report: https://www.annualcreditreport.com/index.action

3. How to increase your credit Score
– A credit score is made up of 5 main points and they are not all equal
– But focus on the 65% that matter ( payment history and the amount you owe)
– Get 3 credit cards and put a small bill on each and pay it off in full each month on auto-pay ( that’s how you’ll increase your credit score )

If it messed up already:
– Check the report and see what you can dispute directly through the annual report
– Or pay down all your debt until you are done except the mortgage
– And then use the billing method to increase and maintain it

Article on Fico Score: https://www.myfico.com/credit-education/whats-in-your-credit-score




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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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