Credit score

Credit score vs your credit report

RICHMOND, Va. (WWBT) – Your credit report and your credit score are two very different things. Rachel DePompa is on your side with the big differences between the two.

According to a recent survey by financial website Nerdwallet, 82% of Americans believe their credit report includes their credit score.

Some credit reports will put a credit score at the top, but many don’t. Sara Rathner, personal finance expert at NerdWallet, says your credit score includes information that appears on your credit report and is what helps influence the score.

“But you have to access your credit score separately to keep an eye on it. And you need to understand that the credit score you see may not match the credit score a lender uses when making decisions on one of your applications,” Rathner said.

Now you can talk to the lender about what’s going on, but Rathner says don’t be surprised to see variations and discrepancies in your credit score because there are different scoring models that are used in different loan decisions.

His best advice is to pull your credit report twice a year to make sure everything is correct. and check your credit score from time to time.

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