Credit Reports vs. Credit Scores: What Matters Most?

Here at Scorewell, our credit management experts tell our clients to focus on credit reports over credit scores because there are simply so many scores out there. If you've ever applied for an auto or home loan, you might've noticed that the lender pulls your credit history and score from several sources and the results are [...]

Common Mistakes Found on Credit Reports

More than 80 percent of Americans have fallen victim to credit reporting errors that result in a lower FICO score than they are entitled to. When it comes to big purchases like a home, even a single error on your credit report may result in you paying tens of thousands more in interest fees because [...]

Five Factors That Determine Your FICO Score

Your FICO score is used to measure your credit worthiness, and potential lenders consider your score, or rating, to determine if you meet their criteria for a loan and what interest rate will be applied to it. What factors determine your FICO score? Let's look at the five key areas. Payment history If your credit [...]

Does a Credit Check Hurt My Credit Score?

One kind of credit check will impact your credit score. The other won't. There's a common misconception that any credit check lowers your credit score and hurts your ability to get approved for loans and new lines of credit, but this is only sometimes true. There are two types of credit checks—hard and soft inquiries—and [...]