Understanding a Credit Score

What Is a Credit Score?

Do you know your credit score? Do you know how your credit score affects your ability to get a loan? Did you know you have more than one credit score?

Even people who think they know their credit score may be surprised by some of the information in this brief FAQ:

What is a credit score?
It's a number based on a statistical analysis of your credit information, sort of like a grade in school that's based on your test scores and behavior throughout the year.

Can my credit score affect my ability to get a loan?
Absolutely. Lenders use credit scores to determine your creditworthiness. A higher score means you're more likely to get that loan — and at better terms than someone with a lower credit score. Employers might look at your credit score, too, before deciding whether to give you that job.

Do I have more than one credit score?
Yes. Each of the three credit bureaus in the United States has their own score. Experian calls theirs a PLUS score, Equifax refers to their credit score numbers as ScorePower, and TransUnion simply calls your credit score a credit score.

Three credit bureaus. Three credit scores. How do you keep track of all of this information?

With a FREE triple credit report from Privacy Matters 1-2-3. You'll see all your credit information — including all three of your credit scores — in one easy-to-understand format.

You'll have the information you need to negotiate the best interest rates and loan terms, to spot and correct errors at any of the three credit reporting bureaus, and to make financial plans that can increase your credit scores. We'll even send you e-mail alerts when suspicious activity on any of your accounts suggests you've become a victim of identity theft.

Sign up right now for your FREE triple credit report from Privacy Matters 1-2-3 and know the score — all three of your credit scores, that is.