Your ever-changing score
 The fact is, you don't have just one
credit
score. Your score is based on the contents of your credit files, and they
change continuously. A credit grantor could request your score, and
someone requesting it 5 minutes later might see a different score.
You probably have a file with Experian,
another with Equifax, and
another with Trans Union.
Each is likely to be different, at least to a small degree. Not all credit
grantors report to all three credit bureaus. Updates for each credit reporting
agency may be performed at different times of the month.
Inquiries are only in your file for the particular bureau(s) that processed
the inquiry.
Of course, if a particular credit
bureau has an erroneous entry in your credit file, that bureau's score might
be drastically different from the others. It's possible that all three bureaus
have the same error, causing an invalid score on all three.
Other factors that can change your score
| Passage of time |
Current delinquencies get more serious
Past delinquencies become less relevant.
Past inquiries become less relevant.
You gain time on the job, time at your current residence, and a longer
credit history. |
| Inquiries |
Each time you apply for credit and a credit
grantor requests your credit report, a few points may be deducted on the
theory that you are adding to your potential monthly obligations.
Note: Scoring systems adjust for multiple applications to mortgage lenders
or car dealers in a short period of time. They are able to sense that you
may be just shopping for the best deal. |
| Instant Update |
For serious derogatory information, such as a
repossession, an instant update may be posted to change your score
immediately. |
| The monthly tape |
As each company provides its "monthly
tape", your score goes up or down. |
Click here to get your own instant online credit
report and credit score as it stands right now.
The online credit score report includes a detailed evaluation of the factors
that are helping and hurting your score.
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