Valentine's couple

3 reasons not to fall in love with your credit score.

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Valentine's Day has come and gone. Here's why you shouldn't fall head over heels for a credit score.

1. Your credit score can change.

Getting too attached to a credit score isn"t generally a good idea. That"s because credit scores can always change. Here"s how it typically works: If the data used to calculate a credit score changes, the credit score, itself, could adjust to reflect that data change.

2. There are many different credit scores (in the sea).

Chances are, you don"t just have one credit score. For example, each of the 3 major credit bureaus calculates its own credit score based on the VantageScore model. Each of those 3 scores may be different because the data available to each bureau may be different. There are also different kinds of credit scores, created by different companies, for different purposes. Bottom line, don"t make one credit score out to be more than it is.

3. Credit scores don"t tell the full story.

A score can be a great way to get a sense of where your credit health stands. But it doesn"t give you much, at all, about the “why.” To get a better idea of why a credit score is where it is on the range of available scores, you"d have to look at the credit data the score uses. Most commonly, that data comes in the form of a credit report.

Whether they"re valentines or villains, credit scores only tell part of your financial story, for a limited time and purpose. The key is to make a commitment to your bigger credit picture and to truly understand your credit for the long term, in sickness and in health.

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