The two faces of credit
We often have applicants come to us arguing that the credit score that appears in the Verify Tenant report is lower than the one they pulled online just a week before. “There must be an error with your system,” they say.
As disappointing as it may be to find that your score is lower in the report being used by your landlord or management company than that you pulled online, the fact is that there is no error. The difference between the two credit scores may be due to one of the following factors:
While both VantageScore and FICO use similar data to compute your score - payment history, balance and debt, credit behavior - the algorithms used to arrive at your credit score are different, thus generating variations in the scores they each provide.
The main advantage of VantageScores is that they are free, allowing consumers to track their credit history often.
It’s a good thing to keep an eye on your credit, no matter which source you use, but when applying for loans or residency, save yourself the disappointment and find out which source the decision maker will be using.
Verify Tenant provides tenant screenings including credit checks, background checks, eviction reports, prior employment verification and other services. Most of our products can be accessed through our fast and easy-to-use online ordering system and provide instant results. No membership fees or minimums. Only pay for the tenant screening services you need.
11/17/2020 10:04:43 am
Two faces of credit are held for also for the team. Nature of the creditor are associated for the goals. Part is plaid for the held report for all factors for the citizens.
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