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To many consumers, a credit score is a mysterious number. Where does the score come from? What does it mean? How can it be improved?
Until now, the answers to these questions were overly complex and often hard to understand. That´s why Experian created the easy-to-understand PLUS Score. Consumers can now actually see how changes to their credit habits can directly influence their credit rating, helping them map out a plan to attain the best possible interest rates and beneficial loan terms over time.
The Experian-developed PLUS Score is easier to understand and use than any other credit score on the market. It´s also the most up-to-date model, reflecting recent changes in consumer spending habits. The PLUS Score formula was developed using the latest data available on U.S. consumer habits, so consumers will get the most current look at how their credit compares to today´s average U.S. consumer.
As a credit-reporting agency with extensive consumer data and sophisticated analytic resources, Experian gives consumers the confidence they need to improve their credit. The company´s expertise in credit scoring dates back more than 30 years. In fact, an Experian company was the very first to offer credit scores based on credit agency data used to assess consumer credit risk, which was made available to all major credit reporting agencies.
The PLUS Score is derived from information based on a credit report, using a similar formula to those used by lenders. It can range from 330 to 830, with a higher score indicating a lower credit risk. The PLUS Score gives consumers the security of knowing how they rate regardless of who they turn to for their borrowing needs.
The PLUS Score Simulator is available to members of Triple Advantage
monitoring service. Consumers get hands-on access and the ability to adjust
various factors in their credit behavior and see the impact those changes
could have on their score. These hypothetical changes help consumers truly
understand what information in their credit file impacts their credit scores-and
what they need to do in order to improve their PLUS Score. |
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