Without a reference to the credit scoring model that has been used to calculate the score a credit score by itself is quite meaningless. If you do not know what the number or the grad means in terms of the high and low limits that the credit scoring model sets then a number by itself does not mean much. There are a few things that you need to understand about credit score and why just a credit score on its own is meaningless.
There are thousands of different credit scoring models in use today by various lenders. The credit scoring model used by a bank may be different from the one used by an insurance company. There are various different credit scores used by different lenders and businesses such as automobile loans, mortgage loans and even credit card companies.
Difference credit score models have different criteria for setting the scale of a high and low credit score. Having a score of 800 may not mean much if you do not know which credit scoring model it belongs to. The FICO scores have a range of 350 to 850, the new VantageScore developed by the National credit agencies in Corporation has a scale of 500 to 990.
Even at the different credit scoring models have the same scale your score was still differ from one model to another depending upon the information that they are using to build your credit score. Plus the same company could be generating credit score for different businesses and you are credit score from the same company but for different business needs may differ from each other.
Different businesses set different thresholds for approval or denial of an application in terms of what is acceptable range of the credit score for the applicant. Even with the same credit score one business may consider it risk worthy enough to give it alone while another may rejected as bearing on acceptable risk.
You can get your credit score from either of the three credit bureaus or by using a credit monitoring service which allows you to constantly monitor and you your credit score. If you use a credit monitoring service you will be able to see the various changes that occur on it as well as understand of the factors affecting the credit report and the credit score. Getting any of the credit score will give you a general idea of how we are credit stands in the eyes of the lender. If one credit score is good and the odds are that the other credit scores from other kinds of model are good as well.