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  • Credit reports can be confusing to a borrower, since you can get a different score from one of the three major reporting agencies: Experian, Equifax and TransUnion. The companies even call their scores by different names, which adds to the confusion.

    Identification

    A PLUS Score is the name of the credit report offered by Experian. It helps you understand how much of a credit risk you are considered.

    Misconceptions

    A PLUS Score is not the credit score that lenders use, which is based on the FICO score developed by Fair Isaac Corporation. The PLUS score merely estimates the FICO number.

    Benefits

    Although not a bona fide credit score, Experian bases the PLUS score on the information used to calculate a FICO. It can help you find weaknesses in your credit history and remedy them, reports My Credit Score Review.

    Features

    The FICO score ranges from 300 to 850, but the PLUS Score ranges from 330 to 830, according to Experian.

    Considerations

    The difference between your PLUS Score and true credit score can vary greatly, sometimes by more than 100 points, reports Seattle PI. Equifax uses a straight FICO calculation, but even this can change from week to week

    Source:

    Experian; About Score Index

    Seattle PI; Why credit scores don't always add up

    MyCreditScoreReview.com; PLUS Score report: Who uses a PLUS Score?

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