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bigchukc12

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How many scores do we really have?
My Fico credit monitoring said I have 4 to 5 different versions of each score!!!

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There are the Big 3 Credit Bureaus

+ a FICO score, there are another dozen secondary scoring agencies. There are 100's of financial institutions in this country.  Each one can have a differant number for you each day. It is more important to know which bracket your score falls in rather than the particular number. There are many differant Algoritiums that are used to figure out scores. You should see a trend in your score movement over time.   National FICO average is around 697. So consider a score of 700 to be above average, above 720 is even better, and will get better terms and interest rates. above 750 will get you even better rates.  800 and above takes a great history for a long time.

Remeber as well that your scores effect more than just your interest rate on credit but also on your insurance. a 5 piont difference can mean higher rates.

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