Table of Contents<\/h3>\n<\/div>\n\n\n- How Credit Scores Are Calculated<\/a><\/li>\n
- What to Do If You Find Something Wrong in Your Reports<\/a><\/li>\n
- How to Dispute Negative Items on Your Credit Reports<\/a><\/li>\n
- Credit Bureau Dispute Information<\/a><\/li>\n
- Common Credit Report Errors and Entries That Hurt the Most<\/a><\/li>\n
- Final Thoughts on Removing Negative Items From Your Credit<\/a><\/li>\n
- FAQs on Removing Negative Items on Credit Reports<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n
How Credit Scores Are Calculated<\/strong><\/h2>\nIn addition to checking your credit reports for errors, you should have a general idea of how credit scores are calculated. You probably have additional questions you want answered as well.<\/p>\n
For example, what is a good credit score?<\/strong><\/a> And what is a bad credit score?<\/strong><\/a><\/p>\nFirst off, you should know that the most important credit scoring model is the FICO scoring. Meanwhile, VantageScore is the second most commonly used credit scoring model.<\/p>\n
Since FICO credit scores are used by 90% of top lenders, we\u2019ll focus on this type of credit score for the purpose of this guide. Like VantageScore, FICO credit scores fall between 300 and 850, with higher scores being superior to lower credit scores.<\/p>\n
According to myFICO.com<\/strong><\/a>, FICO credit scores are also separated into the following ranges:<\/p>\n\n- Exceptional<\/strong>: 800+<\/li>\n<\/ul>\n
\n- Very Good<\/strong>: 740 to 799<\/li>\n<\/ul>\n
\n- Good<\/strong>: 670 to 739<\/li>\n<\/ul>\n
\n- Fair<\/strong>: 580 to 559<\/li>\n<\/ul>\n
\n- Poor<\/strong>: 580 or less<\/li>\n<\/ul>\n
If you\u2019re wondering where you stand, you should know that Experian reported that the average FICO score came in at 714 in 2022<\/strong><\/a>. This means that, for the time being, most American consumers have what is considered a \u201cgood\u201d credit score.<\/p>\n<\/div>\nWhat to Do If You Find Something Wrong in Your Reports<\/strong><\/h2>\nTo keep your credit score in the best possible shape, you should make sure you read over your credit reports from all three credit bureaus \u2014 Experian, Equifax, and TransUnion \u2014 at least a few times each year. Doing so can help you spot inconsistencies in your credit reports and even false reporting or mistakes. <\/p>\n
- \n
- How Credit Scores Are Calculated<\/a><\/li>\n
- What to Do If You Find Something Wrong in Your Reports<\/a><\/li>\n
- How to Dispute Negative Items on Your Credit Reports<\/a><\/li>\n
- Credit Bureau Dispute Information<\/a><\/li>\n
- Common Credit Report Errors and Entries That Hurt the Most<\/a><\/li>\n
- Final Thoughts on Removing Negative Items From Your Credit<\/a><\/li>\n
- FAQs on Removing Negative Items on Credit Reports<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n
<\/div>\nHow Credit Scores Are Calculated<\/strong><\/h2>\n
In addition to checking your credit reports for errors, you should have a general idea of how credit scores are calculated. You probably have additional questions you want answered as well.<\/p>\n
For example, what is a good credit score?<\/strong><\/a> And what is a bad credit score?<\/strong><\/a><\/p>\n
First off, you should know that the most important credit scoring model is the FICO scoring. Meanwhile, VantageScore is the second most commonly used credit scoring model.<\/p>\n
Since FICO credit scores are used by 90% of top lenders, we\u2019ll focus on this type of credit score for the purpose of this guide. Like VantageScore, FICO credit scores fall between 300 and 850, with higher scores being superior to lower credit scores.<\/p>\n
According to myFICO.com<\/strong><\/a>, FICO credit scores are also separated into the following ranges:<\/p>\n
- \n
- Exceptional<\/strong>: 800+<\/li>\n<\/ul>\n
- \n
- Very Good<\/strong>: 740 to 799<\/li>\n<\/ul>\n
- \n
- Good<\/strong>: 670 to 739<\/li>\n<\/ul>\n
- \n
- Fair<\/strong>: 580 to 559<\/li>\n<\/ul>\n
- \n
- Poor<\/strong>: 580 or less<\/li>\n<\/ul>\n
If you\u2019re wondering where you stand, you should know that Experian reported that the average FICO score came in at 714 in 2022<\/strong><\/a>. This means that, for the time being, most American consumers have what is considered a \u201cgood\u201d credit score.<\/p>\n
<\/div>\nWhat to Do If You Find Something Wrong in Your Reports<\/strong><\/h2>\n
To keep your credit score in the best possible shape, you should make sure you read over your credit reports from all three credit bureaus \u2014 Experian, Equifax, and TransUnion \u2014 at least a few times each year. Doing so can help you spot inconsistencies in your credit reports and even false reporting or mistakes. <\/p>\n
- Poor<\/strong>: 580 or less<\/li>\n<\/ul>\n
- Fair<\/strong>: 580 to 559<\/li>\n<\/ul>\n
- Good<\/strong>: 670 to 739<\/li>\n<\/ul>\n
- Very Good<\/strong>: 740 to 799<\/li>\n<\/ul>\n
- What to Do If You Find Something Wrong in Your Reports<\/a><\/li>\n
![\"\"](\"http:\/\/www.petermaneurope.com\/wp-content\/uploads\/2022\/08\/Steps-to-Dispute-Credit-Report-Information-1024x536-1.png\")
<\/figure>\n