"Credit agencies use the same formula to calculate your credit score." this statement is False.
Credit scores vary from institution to institution due to a number of factors, including B. Different scoring models used by institutions, credit score changes at any time, different credit reports used by lenders, different personal information entered by borrowers, and collected across institutions Data confidentiality.
Note that there are many credit scoring models that calculate scores slightly differently. Scores are calculated using various credit reports. Some lenders report to all three major credit bureaus, while others report to only one or he two major credit bureaus.
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