The following article contains many…

…questions about credit scores and the answers not only educate you on the basics of credit scores but also show you how to improve your score.What Is A Credit Score?A credit score is a number computed by a credit bureau and used to indicate how likely a consumer is to pay back a loan. Your score is computed by a computer program (also referred to as a mathematical or computer model ) that takes certain data from your credit bureau file and uses that data to calculate your score.Each of the three credit bureaus computes your score using a similar computer model. The model was created by the Fair, Isaac and Company, Inc., (hence the term FICO score) and is sold to the three major credit bureaus for their use with their data. If the information about you at all three credit bureaus is the same, then your score from each of the three bureaus should be essentially the same.However, the information about you can be different at the three bureaus.What Type of Data is Used to Calculate My Credit Score?Your credit score is based on credit-related information-both positive and negative-in your credit-bureau file, including:

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Tags: credit bureau, credit bureaus, credit card, credit report, credit score, credit scores, debt, fico, loan, mortgage, refinance