A credit score is a 3-digit number that represents your creditworthiness —or how likely you are to pay back the money you borrow. Lenders typically use your credit score to determine if you qualify for a loan, at what interest rate, and what credit limit you get.
Credit scores are maintained by three main credit bureaus - TransUnion®, Equifax and Experian - and are calculated based on information in your credit report using score models like VantageScore and FICO. These models typically calculate scores that range from 300-850.
Your credit score is determined by six main factors: Payment History, Credit Card Use, Credit Age, Derogatory Marks, Hard Inquiries, and Total Accounts.
Checking your TransUnion® credit score on Brigit DOES NOT impact your score, as Brigit updates your credit score with a soft inquiry. Only hard inquiries may affect your score; however, these need to be authorized by you first.