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They absolutely do provide a rating. Equifax, Transunion, and others provide a FICO score (or similar) based on the data they have.
by binarymax 7y ago
They absolutely do provide a rating. Equifax, Transunion, and others provide a FICO score (or similar) based on the data they have.
- lotsofpulp 7y agoI meant as their primary purpose, if the government were to offer a similar service. They all started selling scores recently, but lenders don’t necessarily use that, they look at the details themselves and come up with a decision on whether or not to lend.
- caseysoftware 7y agoThat's not accurate. I just finished my home refinance two weeks ago. First, my score qualified me into a certain set of options (rates, points, etc) then they asked about specific details of the report after. But the score is the first pass/qualification.
- pxeboot 7y agoCredit reports are not the same as credit scores. They are typically provided by different companies.