Credit score you see not what all lenders use

Credit score you see not what all lenders use
It seems like everyone wants to know their credit score. There are lots of sites that will sell you this information. A few will actually give it to you for free with no strings attached.

But here's something you may not realize: the score you get is not the score that is most often sold to creditors - the folks who decide if you get a car loan, mortgage or a credit card and what price you'll pay to borrow that money.

A few weeks ago, the Consumer Financial Protection Bureau released a study that shows that in one out of five cases the score you buy from a credit bureau is meaningfully different" from the score that a lender would consult in making a decision.

But the report concludes there is no way for you, the consumer, to know what score the lender is using.

Why is this happening? It's because none of us has a single credit score.

Lenders use a variety of computer models to come up with a number - a score - based on your credit history. That score is different from the "educational" scores you can buy.

The bottom line: you can't rely exclusively on the credit score you get to understand how lenders with see your creditworthiness.

You can get a truly free credit score from these trusted sites:, Credit Karma and Credit Sesame