4 MYTHS ON FICO SCORES REVEALED PART 2
HERE IS A LINK TO PART 1 FOR REFERENCE
MYTH #2: YOU ONLY NEED TO CHECK ONE FICO SCORE
Many people think that there is only one credit score to check. The most popular to check is Equifax. All three credit burrows include the following:
TRANS UNION, Customer Disclosure Center, P.O. Box 390, Springfield, PA 19064-0390
http://www.transunion.com/1-800-888-4213 known as Empirica credit score
EQUIFAX, P.O. Box 740241, Atlanta, GA 30374-0241
http://www.equifax.com/ 1-800-685-1111 known as Beacon credit score
EXPERIAN, P.O. Box 2104, Allen, TX 75013-2104
http://www.experian.com/ 1-888-397-3742 known as Fair, Isaac Risk Model
A consumer will have three different credit scores from three different agencies listed above. Why? Each company is differently owned and operated. The bureaus do not share information with one another. One bureau may list more accounts than another one on the credit report.
One must pull their credit from all three agencies to make sure that everything is correct on the credit report. This is called a "TriMerge Credit Report." This will show your credit history with all three major agencies listed above. A mortgage professional will take your mid-score when doing a mortgage. It is vital that one fixes any errors on the report to increase ones credit score to obtain a better interest rate on a loan. It is my personal opinion that it is better to pay a mortgage professional to pull your credit report since it is most accurate. Otherwise, you will not receive the correct information needed to get ones financial house in order.
Here are 4 TIPS TO KEEP A HIGH CREDIT SCORE AT ALL TIMES
- FIX ANY ERRORS IMMEDIATELY
- PAY BILLS ON TIME EACH MONTH
- PAY DOWN DEBT TO ZERO
- ONLY APPLY FOR NEW CREDIT IF NEEDED
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