Experian Personal Credit Rating Reports:
- Consumers can sign up through Experian to view their credit reports as well as their Vantage Credit Score – fees do apply to these services
- The Vantage Score is a credit score which is based on the reports developed by the three leading credit bureaus – Experian, TransUnion and Equifax
- Similar to a FICO credit score, the Vantage Score provides a numeric value to consumers which indicates their creditworthiness to potential lenders or other financial matters
- Through this website consumers can view their full Experian Credit report for $14.95 or view their Vantage Score for $7.95
Credit Scores and Credit Reports are the main tools which lenders use when determining a consumer’s credit worthiness. There are two main types of credit scores, Vantage Score and FICO score – both use a similar criteria for determining an overall score. If you are applying for any line of credit, it is almost a certainty that your lender will check out your credit history using tools from the main credit bureaus. This applies to loans such as home loans, auto loans, or personal loans as well as lines of credit such as credit cards. Factors such as your interest rate, total loan amount, loan term, or total line of credit are all partially determined using a consumer’s credit history information.
In order to be able to anticipate how a lender may view your credit worthiness, it is important to stay on top of your credit report. Using tools such as your credit score and regularly monitoring your credit report are the best ways to make sure you know your credit status. Another important reason to stay on top of your credit information is because mistakes are occasional made by credit reporting companies. The only way to amend a mistake is to be aware of it and make sure the proper action is taken to correct any errors.
Additional Information about Vantage Credit Scores Through Experian:
- Factors which influence credit scores include; payment history (on time payments vs late payments), credit utilization, age and type of credit, and more
- In addition to providing reports and scores you can also request one on one credit counseling through Experian to receive expert advice regarding your score – fees apply
- Members can also sign up for credit monitoring and identity theft monitoring through Experian to protect their personal credit information from being misused
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