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Chapter 11. CREDIT REPORTS > What Does It All Mean?

What Does It All Mean?

When your credit score is generated, a list of as many as four reasons describing why the score was not higher is also produced and will be made available to you. This can be particularly helpful if you were denied credit or received a less advantageous interest rate as a result of a less than stellar credit score. This can also be a good opportunity to find out if you are a victim of identity theft, and it can provide concrete information as to what significantly reduced your score and what you need to do to improve your score. Now that the credit score genie is out of the bottle, FICO and many of the credit card companies have tripped over themselves trying to court consumers as well as make a buck out of consumers' thirst for their credit scores.


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