The benefits of having many credit scores online available to consumers for purchase or FREE…

I often discuss the negatives of having so many credit scores available to consumers online for free/purchase but there are some positives as well. In the last 10 years consumers have become much more aware of credit scoring and how it can impact the pricing on a mortgage, credit cards, leases, lines, and ultimately affect the quality of their lives. We are bombarded with information now about credit/credit scoring and much of it can be overwhelming to sort through. Although the many different credit scores and ranges can confuse us there is a positive to all of this. Consumers can watch credit daily or monthly and see the peaks and dips of their scores while learning what each score number represents as it changes.

Although each score might vary in range and type if your score is poor on one model it will probably be poor across the board with the other models. So if you do wind up using the free credit score given on the Credit Karma site or any of the others, you will be able to learn how scores work and whether your score threshold represents poor, good, or great credit. The key to all of this information is to know that all these scores vary in range and may be a little different in terms of how they are formulated but they all basically look at payment history, amount of debt, age of credit, and credit variety. A consumer may have a score number that is different for each varied score model but normally they will fall into the same status of poor, good, or great consistently. With this in mind, individuals that understand how this works can use any score to get of sense of what their credit health is on a regular basis.