Credit Knowledge

The School of CREDIT knowledge

Tulsa credit repair has put together a basic idea list here of what you need to know about your credit. We believe in total and utter transparency. The first issue you might have is what is a credit score?

What is a credit score?

It’s a series of numbers that range from 600-800 and the higher the number the better your credit score. You should be able to see it easily when you access your free Credit report from Experian. Credit reports are legally free once a year according to federallymandated law. But, the sad part about that is that you only see one of three reporting bureaus and you do not get access to another and even more important system the FICO score.

Why are there three bureaus and a FICO score?

That is because each company works independently of each other to calculate you score based on incoming information. This includes Experian, Equifax, and Transunion the big three when it comes to reporting credit scores. Each company you have a line of credit with uses one of these bureaus for their reporting. It’s again a matter of preference for the company you are working with. The FICO score itself is the final score that is tabulated and then tailored for lenders.