A Guide to Navigating Your Credit Journey

Highlights:

• Your credit scores are a strong indicator of your financial well-being.
• Having a strong credit history can impact major financial decisions you'll make.
• It is important to understand what credit is and where your credit data comes from.

Credit scores are an important part of your financial health, but not everyone knows how you get that credit score. Yet you need good credit scores to get a mortgage, a car loan, or even rent an apartment. A lot of things go into calculating your credit scores, but each factor carries a different weight. For example, your payment history is more important than the types of credit you have opened. It's also important to know that you don't only have one credit score. There are different scoring models that lead to different numbers. The three nationwide credit reporting agencies or NCRAs (Equifax^®, Experian^®, and TransUnion^®) will also often show slightly different scores based on which information is reported to them by your lenders. Some lenders may report to all three NCRAs, while other lenders may report to only one or two. This determines your credit scores, which may mean that your credit scores may differ a bit. Differences in the credit scores happen because of the different scoring models that providers use to evaluate your credit history and calculate credit scores.

When it comes to your credit scores, there is a lot of information you need to know. Get advice from Equifax about credit scores that can help you have a better understanding of your current credit position. In this eBook, we answer common questions about credit scores and credit reporting. Continue reading to get the information you need to navigate your credit journey.

Download the Navigating Your Credit Journey eBook for more information to help.

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