Frequently Asked Questions(FAQ)

Which of my credit scores is the most important?

No one score is most important, except the score a lender who will give you the best terms decides to use. The best thing you can do is monitor all your credit scores regularly and strive to maintain good credit across all scoring models. Doing so can increase your chances of being approved for credit and getting favorable terms, such as lower interest rates and higher credit limits.

How do I know which credit score a lender will check?

Note that FICO is still the most commonly used credit scoring model, with FICO 8 being the most common variation. If you are applying for a mortgage, it is most likely that the lender will check all three credit reports and all three of your primary scores. If you apply for an auto loan, the lender will likely use auto-specific scores. Most borrowers will never know which credit score was checked. But, by checking your own credit score periodically, you will have directional guidance on your creditworthiness and what a lender might see on your credit report. 

What is the most important thing for me to know about credit scoring?

The most important thing to know about credit scoring is that it's based on your credit behavior and history, and it can significantly impact your financial well-being. Your credit score is a numerical representation of your creditworthiness, and lenders use it to determine whether to extend credit to you and on what terms. 

What do I need to do to improve my credit score?

Building a credit score from scratch and improving your credit score takes dedication and perseverance. Here are what you need to do to improve your credit score if it is lower than you desire.

  • Check your credit report for inaccuracies and file a dispute if something doesn’t seem right
  • Pay your bills on time
  • Keep your credit balances low
  • Practice good credit diversification with a healthy mix of credit cards, loans, and a mortgage or rent payment
  • Sign up for a credit monitoring service if your financial institution doesn’t offer this perk
  • Follow a budget to ensure you are not overspending

About the Authors

Ann Schreiber

Written by: Ann Schreiber

Seasoned Copywriter & Content Marketer

Ann has been a marketer and a content writer for over 20 years. She worked for financial institutions such as FICO, Experian, and BlueChip Financial as a director of content and brand marketing.

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