There 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?