There are various types of credit scores. The PLUS Score is a credit score model developed by Experian® to help you see and understand your relative credit risk level for educational purposes. It is not a score used by lenders or other commercial users for credit decisions.
PLUS Scores range from 330 to 830. Higher scores represent a greater likelihood that you'll pay back your debts so you are viewed as being a lower credit risk. A lower score indicates that you may be a higher credit risk (risk of default). There are many different credit scoring models that can give you a different assessment of your credit rating and relative risk for the same credit report. Lenders or insurers use credit scores different from the PLUS Score. For some consumers, the risk assessment of a PLUS Score could vary, sometimes substantially, from a score used by a lender. If a score used by a lender is lower than your educational PLUS Score, it is possible that this difference can lead to higher interest rates and sometimes credit denial.
There are three different major credit reporting agencies - the Experian® credit bureau, TransUnion®, and Equifax® -- that maintain a record of your credit history known as your credit file. Your PLUS Score is based on the information in your credit file at the time it is requested. Your credit file information can vary from agency to agency because some lenders report your credit history to only one or two of the agencies. So your PLUS Score can vary if the information they have on file for you is different. Since the information in your report can change over time, your PLUS Score may also change.