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Your PLUS Score is a user-friendly, consumer-focused credit score based on the information in your credit report. Your PLUS Score is calculated using a similar formula to those used by lenders, ranging from 330 to 830, with a higher score indicating lower credit risk.
Credit scoring helps potential lenders, landlords, and employers
quickly gauge an applicant's credit history. Your PLUS Score is
determined using many of the same factors considered by credit-scoring
companies. The Score Analysis section of your PLUS Score report
provides more details about the factors that affect your score.
Typically, a higher score indicates a lower credit risk to lenders.
Be aware, though, that there are many scoring models used in the
marketplace. The type of score used, and its associated risk levels,
may vary from lender to lender. The PLUS Score allows you to know
where you stand regardless of which scoring model may be used
to assess your credit.
Different Ways to View Your PLUS Score
Your PLUS Score is presented in three formats in order that you
may better understand your credit history.
- Three-digit Number
The most common way scores are viewed is numerically. Your PLUS Score is calculated as a three-digit number and uses a scale widely accepted by those in the lending industry, ranging from 330 to 830. Like most score models, the higher your PLUS Score value, the lower your credit risk.
- Credit Category
These categories offer you an alternative way to understand
how your credit scores in a “good” vs. “poor” perspective.
Although each lender has different criteria on how they weigh
different factors, you may likely receive the best loans and
terms if you fall in the “good” or "excellent" category. This
scale is to be used as an educational tool and is not a guarantee
that you will be approved or turned down by lenders.
- The Percentile Value
The percentile value is a way to see how your credit score
compares to the rest of the U.S. population's. The percentile
scale is calculated using a sample of more than one million
credit reports from U.S. consumers. The higher your percentile
ranking, the more likely you are to be seen as a favorable
loan prospect by lenders.
Some statistics about the score distribution (percentiles):
- 15% of the US population is below 600
- 35% of the US population is below 670
- 50% of the US population is below 710
- 70% of the US population is below 755
- 90% of the US population is below 790
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Your PLUS Score is calculated using information from your credit
report on the day it is calculated. It is based on multiple factors
similar to what lenders use. To better understand what factors
negatively and positively affect your PLUS Score, please refer
to the Score Analysis section of your PLUS Score report.
Factors Not Used
By law, factors that are NOT used in calculating your PLUS Score include age, sex, and race. These factors are excluded from credit scoring to eliminate bias and discrimination from the decision process.
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