According to the Consumer Financial Protection Bureau, you may be a victim of a flawed credit score.  While many of us obtain a free credit report to see what our calculated credit score is, the CFBU believes that the score we see may not be the same one lenders use to approve or deny you.  In recent cases, the CFBU has learned that many lenders obtain scores that tend to rate you lower. Lower scores means that consumers will, more than likely, receive higher interest rates on loans.  Also, creditors use those scores in order to determine whether or not you will be able to pay the loan back.

 

So what do you need to do to correct this?  Instead of paying attention to her score, focus on your credit history.  Most scores can increase if people take the time out to dispute errors on their report.  If you see a mistake, contact TransUnion, Equifax, or Experian and request a dispute application. Or simply ask them what is the proper process for disputing an error. Once your mistakes are corrected, then shop around for the best rates available for someone with your type of credit score.