Fact: You actually have three or more credit scores, including one each based on your Equifax, Experian and TransUnion credit reports. The scores can vary significantly, which can mean the difference between a lender approving or denying your credit application. It's a good idea to check your credit score with each of the bureaus at least once a year. Each offers convenient online ordering and offers products and services on an a la carte or package basis for a fee. You can also request a free credit report once each year from each of the three credit bureaus at www.annualcreditreport.com. Fair Isaac Corporation and the Consumer Federation of America have developed a brochure titled “Understanding Your FICO Score” that is aimed at helping consumers understand the credit scoring process, information contained in credit reports, and the relationship between the two. You can download a free copy of the brochure by visiting the Credit Education Documents page at myFICO.com.

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