What is a credit score and why is it important? Credit scores defined by TransUnion
Your credit score determines how much you pay for life’s needs. People get all worked up about it for a reason. Watch this video and you might just reconsider your financial decisions.
Categories: Credit Score Videos Tags: Credit, Credit Score, defined, TransUnion
If I choose “credit” w/ my Visa check card, is it reported to Transunion, etc, like a credit card transaction?
Question by stuart m: If I choose “credit” w/ my Visa check card, is it reported to Transunion, etc, like a credit card transaction?
When you choose “credit” with your visa check card instead of “debit” and you have sufficient funds in your checking account to cover the charge, is the charge nonetheless reported to the three credit agencies as a credit transaction? I want to know because my credit report said my FICO score will increase if I reduce my debt to income ratio.
Best answer:
Answer by stephenweinstein
Neither check card transactions nor credit card transactions are reported to the three credit reporting agencies. Credit card BALANCES are reported (monthly or less often) to the credit reporting agencies, but individual transactions are not and neither are check card balances.
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Categories: Credit Score Questions Tags: Card, Check, choose, Credit, credit card, like, reported, transaction, TransUnion, Visa
Why is my Equifax credit score so much lower than Transunion and Experian.?
Question by : Why is my Equifax credit score so much lower than Transunion and Experian.?
The content is identical to both Transunion and Experian, but Equifax is nearly 100 points lower. I was thinking about buying my first home, but I’m afraid to even try to get prequalified.
Best answer:
Answer by irishkittie79
It’s all in the calculations and each bureau does it differently. Ask the lender which one they will use or if they use them all. Some will use the FICO score which is independent of the 3 credit bureaus. Do not worry about your score at this point, look at your debt to credit and pay off what you can and then apply for your loan and see if you get pre-approved. Be sure to shop around.
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Categories: Credit Score Questions Tags: Credit, Equifax, Experian, lower, much, Score, Than, TransUnion
What is a credit score and why is it important? Credit scores defined by TransUnion
A lot of people today are aware about credit scores. They know that credit score is basically one the most important aspects of our financial lives. However, there are still people who aren’t well-versed with it and don’t have so much idea why it is so important.
Credit scores can actually have a huge impact on making life’s big-ticket purchases, whether it be your dream house or your dream car. Your credit score could either make or break your purchase power. It isn’t that complicated. Watch this video and know further.
Video Rating: 5 / 5
Categories: Credit Score Videos Tags: Credit, Score, Scores, TransUnion