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The Most Important Article About Credit Scores You Should Read Today


Good morning,

I have many conversations daily with consumers about their credit.  One of the first questions I ask is “what are your scores, and where did you get them”.

Where did you get your credit scores?

Yes, it’s important to know the source of the score.  Because quite frankly, they is a difference.  Internet credit scores, or what I call consumer scores are not the same as a credit score a bank pulls.

So the difference in scores can be significant.  You can pull a score off of the internet, say from Credit Karma..and it can be as much as 100 points higher than a bank score.  This can be not only a big surprise when you apply for a loan thinking you have a great score, but also embarrassing.

So there are different “brands” of a credit score as there different brands of shoes, sunglasses, cameras, etc…  Yes the score is 3 digits, but how those 3 digits are calculated are different.

The most popular consumer credit scores are the Vantage Score, PLUS Score, Smart Score, and Credit Xpert Score.  Typically banks are using one of the FICO model scores.

But regardless of the scoring model, they all emphasize paying your bills on time, keeping credit card balances low, limit hard inquiries annually, and maintaining a good mixture of credit (auto, credit cards, mortgage).

If you have any questions about your scores, feel free to comment on my blog or you can contact me direct.

Jason Hall



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