It is really important for you to get all three credit scores so that you are able to maintain a good credit rating. Your credit score is mainly based on the structure by the Fair Isaac Corporation. You can get your FICO scores from the three credit reporting agencies – Equifax, Experian and TransUnion.

Why is it important to get all the three scores?

It is really important for you to get all the three credit scores as the score vary according to the credit reports prepared by the three credit bureaus or the credit reporting agencies. Though the score is based on the FICO structure, the scores prepared by the three agencies differ a lot. It is important for you to check out all the three scores. Your creditors and lenders check with all the three.

The three scores vary as the credit reports vary too. This is because, not all creditors and lenders (information furnishers) report to all the three credit bureaus. So, the credit reports are bound to differ and so will the credit scores differ too.

It is also important for you to get credit from such creditors and lenders who report atleast to one or two or all the three credit bureaus. Otherwise, your payments on the credit accounts will not get listed on your credit report and will not be counted while the credit score is prepared. Even if you have been making on-time payments on these accounts, it won’t help your credit history and neither your credit scores.

Another reason for which you should check with all the three credit score is that sometimes even if a creditor is reporting to all the three bureaus, a listing may get reported incorrectly. In that case, your credit score can lower more than usual. Thus, you need to check with all the three credit reports (rather two as Experian has stopped giving out credit reports) and also your three credit scores from the three credit bureaus.

Some of the factors that influence your credit score are your payment history, the amount owed by you on your credit accounts, types of credit that you have, length of your credit history, any new credit (if taken). You should also know that you should check your credit score from time to time in order to keep a check on it. If your credit score lowers, you will have to better your credit score, otherwise you will not be able to qualify for any kind of new credit.