Your credit score report data may be shared, together with your permission, whenever you apply for credit score, a job, a rental or utilities. Lenders and bank card issuers sometimes verify your credit score to resolve whether or not to approve your software, and on what phrases.
What’s the distinction between a credit score rating and credit score report?
A credit score report is not the identical as a credit score rating, and studies don’t embrace your rating.
Credit score bureaus promote credit score report entry to credit-scoring corporations, who run among the knowledge by way of proprietary formulation to supply credit score scores.
So, a credit score rating is a quantity designed to assist a lender or card issuer gauge the danger concerned in lending to you, whereas a credit score report comprises the information used to calculate that quantity. And since credit score bureaus haven’t got precisely the identical knowledge, you are prone to have barely completely different scores relying on which set of information was used within the calculation.
You’ll have credit score report entry already
In the event you’ve checked your free credit score, you might also have entry to a credit score report. Will probably be an abbreviated model of your full credit score report, and it’ll come from the identical credit score bureau as your free rating. You should utilize that data to remain on high of your cost historical past, credit score utilization, current functions and extra, but it surely received’t be as detailed as your full credit score report, which is able to seemingly return additional in time and embrace an inventory of who’s seen your report.