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In concept, the purpose codes ought to contact attention to locations on your credit report that should be studied additional. In practice, the reason codes frequently are utilized just to make it easy for the lender to generate a letter of declination, complete with factors, ought to you occur to drop beneath the lender's predefined cutoff.<br><br>
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Until lately, your credit score was not accessible to you. Only loan companies and other businesses that utilized the rating could accessibility it. Fair Isaac and Company felt that the score would only confuse consumers since there was absolutely nothing to tell them what it intended or what the loan companies were looking for.<br><br>
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