Understanding what credit score you need

The credit score that you will need to obtain credit will depend on a number of factors, including the type of credit that you’re seeking, and most importantly, the individual lender’s criteria. Generally speaking, buying a car requires less scrutiny. Even with low or no established credit scores, a consumer would still be able to find a lender. However, it would likely come at a very high price in the terms of high interest rates. A home loan, on the other hand, involves more scrutiny and stricter lending guidelines because the value of home …

How to properly check your credit

When you check your credit, it’s important to not just obtain a credit report from one bureau. There are three major credit bureaus: Experian, TransUnion, and Equifax. Your reports at each bureau may not always have the same information, typically due to inaccurate data or the timing of the bureaus’ updates. Typical credit report discrepancies If you pull your report from all three bureaus on the same day and notice a discrepancy, such as one bureau not showing the most-up-to-date information, the most obvious reason for the discrepancy is that the bureau has just not updated …