10 Things Consumers Don’t Understand About Credit Scores

25 Oct

US News – Stephanie Steinberg

Three numbers can affect everything from securing a mortgage or loan to how much interest you’ll pay when you’re approved for a house. And while they’re just three numbers — that typically range from 300 (very bad) to 850 (very good) — there’s a lot of information and regulations behind them. But don’t worry, if a thing or two about your credit score has left you scratching your head, you’re not alone.

"Consumers look at their credit report and they’re like, ‘I don’t understand it. I don’t know what it means,’ " says Gerri Detweiler, director of consumer education for credit.com and host of Talk Credit Radio.

Read more: http://money.usnews.com/money/personal-finance/articles/2013/10/23/10-things-consumers-dont-understand-about-credit-scores

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