Your Credit Score and How It Works
AT AMERIQUEST YOU ARE MORE THAN JUST A CREDIT SCORE®
Why do credit scores matter?
They have a direct impact on your chances of qualifying when you apply for a mortgage, car loan or credit cards.
What is a credit score?
Your credit score is a numerical representation of your credit history. The lower your score, the higher risk you are to lenders.
Who makes the scores?
A company called the Fair Isaac Corporation is responsible for these scores, also known as FICO scores.
Who keeps the scores?
Credit scores are derived from reports kept by major credit agencies, including Experian, Equifax and TransUnion. These agencies track the amount of debt consumers have taken on and whether they pay their bills on time.
What is the range of a credit score?
Credit scores range from 350-850. Where you fall within this range will determine what lenders can offer you.
Learn How You Can Improve Your Credit Score
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