What is the credit score?
Your credit score reflects your level of credit risk to a potential creditor. The number is generated through statistical models using elements from your credit report. However, your score is not physically stored as part of your credit history on the credit report. Rather, it is typically generated at the time a lender requests your credit report and is then included as part of the credit report. Your credit score is a fluid number and it changes as the information in your credit report change. For example, payment updates or a new account could cause your score to fluctuate. There are many different credit scores used in the financial service industry. Your score may be different from lender to lender or car loan to mortgage loan, depending upon the type of credit scoring model that was used.