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Borrower vs. lender credit scores

Borrower vs. lender credit scores

By Daniel Gutierrez. CREATED Sep 25, 2012

It turns out your credit score may not be as good as you think it is. A new study by the Consumer Financial Protection Bureau says one in five consumers receive a very different score than what a lender comes up with.

The Bureau's Director says, “When consumers buy a credit score, they should be aware that a lender may be using a very different score in making a credit decision.”

That's why the Bureau recommends people shop around for the lowest priced credit. And make sure to check your credit report for accuracy and make sure to dispute any errors.