I tell people to focus on credit reports over credit scores because there are simply so many scores out there. Among generic models, there is the VantageScore model and multiple FICO models.
Each credit score model may differ in terms of the weightings of certain factors or how it is constructed. For example, a model might place a greater emphasis on the balance of your credit card. Simply, “your credit score” is not just one score.
However, all the credit scores come from one place: your credit file. So rather than comparing your various credit scores all the time, it’s more productive to make sure the information in your credit file is up to date and accurately reflects your prudent debt management steps.
Yes, credit scores do matter. They are an important part of our financial well-being and having a good credit score can literally save you thousands of dollars over the course of a loan. Plus, having a “directional” idea of your credit score can be useful, especially if you are going to apply for a loan in the near future.
ScoreWell Credit specializes in educating you on your credit file, coaching and providing you with accurate information and most importantly…… removing outdated, unverifiable and incorrect data on your report.
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