Knowing Your Score

knowscoreThere is a lot of buzz about knowing your credit score.  That buzz can be misleading because there is no one credit score for each person.

There are many different credit scoring models that co-exist in the marketplace including generic scores, proprietary lender scores, industry specific scores and educational scores. A number of the scores available for purchase are considered educational and do not coincide with the exact scores that a creditor will obtain when you apply for credit.

Typically you have to pay a nominal fee to get a score generated from your report.  Federal law entitles us all to one free report each year from the three major bureaus, Equifax, Experian, and TransUnion, but it doesn’t provide for a free credit score.

Buying all your different scores would be expensive, not to mention the time involved in tracking down all the different models and their uses.  So, which score should you know? And, do you really need to know all those numbers?

Learn more about credit scores in our new project, Credit Scores: You Do the Math
Underwritten by:experian_logo

  Beware of What Shows Up at Your Front Door!

Spring and summer are door-to-door sales time. Some of the callers will be selling legitimate products or services but others’ intent will be to rip you off. We are going to concentrate on the crooks. There are a number of ploys that are used to gain entry to your home and your pocketbook. A common scam is someone posing as an employee of a utility company, who claims to need access to your house to check the water pipes or test the electricity. Don’t believe it. If you have not called a utility company for service, then you need to check out these claims by contacting the utility company and finding out if there really is a problem in your neighborhood. Other common themes include the person who tries to tug at your heartstrings by saying they need your help or their family will go hungry. Others tell you that part of the money you spend on magazines will be donated to a charity. Another common ploy is to tell you they are working in your community but can’t provide a name as a reference.
Latest Audio
If you use online banking
If you are losing home you're vulnerable
Can you name every card in your wallet?
You've cosigned and you're worried
Latest Video
Consumer Report Video