If you’ve ever bought your “free” credit report online, chances are you’ve been deceived by the credit reporting agency who sold it to you. Like a magician pulling a rabbit out of a hat, these credit agencies make up a score and sell it to you.

Of course, there’s a mathematical formula behind the score they sell but the number you receive bears no relationship to the real number the exact same credit reporting agency will sell to actual and prospective creditors.

What does this mean to you in the real world?

Let’s say that you [Read more...]