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Is There A Difference Between A Credit Score And A Credit Report
Dated: January 12 2016
Is there a difference between a credit score and a credit report?
You've probably heard of both, but you may not know the difference between them. Credit reports and credit scores are closely related, but they aren't the same thing. However, both are useful when it's time for you to buy property, so here's what you need to know about each.
What's a credit report?
You can request your credit report for free. There are three credit-reporting companies, TransUnion, Experian, and Equifax, but you can access any of their reports through annualcreditreport.com. Although you can only request one free report from each company per year, it might be a good idea to stagger the requests rather than pull all three at once so you can monitor your credit throughout the year.
What's a credit score?
Scores can also vary based on the source providing it. For example, some credit card companies have started providing cardholders with a credit score as part of their benefits. While these scores can be helpful to track, they are only one tool for determining your creditworthiness, and may be different than what a mortgage lender uses.
What's the takeaway?
We work hard to provide our clients with the most positive real estate experience possible. A vital part of today's real estate industry is technology, and to that end we provide our clients with stat....
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