What are credit scores?

Is there a difference between FICO vs. Vantage?

Just because FICO or VantageScore releases a new credit score doesn’t mean that every lender will upgrade and use it. Instead, different lenders may use different credit score versions. The concept is similar to the idea when your computer doesn’t automatically update it's software until you agree to it. Once you agree it will introduce a new operating system. There are so many credit scores on the market, tracking all of them would be virtually impossible. You don’t need to track all of your actual credit scores. It’s far better to keep tabs on the information that influences your scores. What does this mean for you? it's up to you to review your credit data and make sure that what's being reported is in fact correct, because if it's not. This can be the difference between any future financial goals. A validated credit report should equal solid credit scores under any FICO or VantageScore brand scoring model. Have you noticed a difference between the two?

#credittips #CreditBlog

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