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Showing posts from November, 2015

Reasons why not all your credit reports show the same credit score:-

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In today’s time, managing your financial requirements without the help of loans is quite impossible. Whenever there is a shortage of funds, the most common choice is to get a loan. The health of your credit report plays a crucial role in getting your loan application accepted or rejected. Hence, it is utmost important for you to have a favourable credit profile. Borrowers face a difficult situation when their report shows different scores from different bureaus. This variation in scores may lead to problems in getting a loan. There are several factors that cause this disparity in your score that you get from various bureaus. Varied scoring models: Other than a few leading agencies, many more have come up who are offering services related to credit scores. All these agencies have a different procedure to calculate your score. Lenders also have their own method of calculating your score that helps them decide whether to lend you the money you requested. Tim