--- title: The Top 3 Questions We Get About Credit Reports And Scores description: Get the answers to the 3 top questions we get asked during our free credit score webinars. image: https://go.hfcu.org/hubfs/Blog%20Photos%20800%20x%20800px%20(6).jpg --- [![MoneyWisdom_HFCU_r2](https://go.hfcu.org/hs-fs/hubfs/MoneyWisdom_HFCU_r2.png?width=464&name=MoneyWisdom_HFCU_r2.png "MoneyWisdom_HFCU_r2")](https://go.hfcu.org/blog) Filter by Category** - [Show All](https://go.hfcu.org/blog) - [Security](https://go.hfcu.org/blog/topic/security) - [Personal Finance](https://go.hfcu.org/blog/topic/personal-finance) - [Auto](https://go.hfcu.org/blog/topic/auto) - [Business](https://go.hfcu.org/blog/topic/business) - [Credit Score](https://go.hfcu.org/blog/topic/credit-score) - [Home](https://go.hfcu.org/blog/topic/home) - [Credit Cards](https://go.hfcu.org/blog/topic/credit-cards) - [Life Changes](https://go.hfcu.org/blog/topic/life-changes) - [Insurance](https://go.hfcu.org/blog/topic/insurance) - [Investments](https://go.hfcu.org/blog/topic/investments) Filter by Category** - 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[dormant account (1)](https://go.hfcu.org/blog/topic/dormant-account) - [inactive account (1)](https://go.hfcu.org/blog/topic/inactive-account) # The Top 3 Questions We Get About Credit Reports And Scores ** [Hanscom Federal Credit Union](https://go.hfcu.org/blog/author/hanscom-federal-credit-union) ** Sep 05, 2021 ![young woman at desk looking at webinar on laptop](https://go.hfcu.org/hubfs/Blog%20Photos%20800%20x%20800px%20(6).jpg) We regularly offer [free webinars](https://www.hfcu.org/future-seminars.html) on a variety of money topics. One of the most popular is our seminar on credit scores. This webinar takes the mystery out of understanding a credit score, and people have an opportunity to get their questions answered.  So, what are they asking? Here are the top three questions we've fielded during our seminars and webinars: ### **1. Why has my credit score dropped? I thought it was much higher.** You can have a squeaky clean payment record and still have a less-than-great score if you carry balances on your credit cards. [Just using more than 30% of your limit can affect your score](https://go.hfcu.org/blog/credit-score-factors). Have you recently closed an unused card? That could reduce your capacity. Plus, if it was your oldest card, your length of credit may have changed.  ### **2. What’s the difference between installment and revolving credit? How does that affect my credit?** An installment loan is a set loan amount, paid off over time, and is usually backed by collateral. Think of a car loan (the car itself) or home equity loan (the property). Revolving credit can be used, paid off, and used again. A credit card is the best example of revolving credit. Having an installment loan with a good payment history boosts your score. You are proving that you can handle debt and that lenders have trusted you in the past. With revolving credit, the lender could get burned if you suddenly run up your balances and have trouble making payments. It's like the difference between good and bad cholesterol. Installment debt keeps your credit healthy, as good cholesterol protects you from heart disease. Revolving debt can damage your financial health if it’s too high, just as high levels of bad cholesterol can damage your physical health.  ### **3. How do I read my credit report?** First, look at the top summary to find your total balances of installment and revolving debt and your percent of available credit. That will help you calculate your capacity. You can also easily see how many credit inquiries you’ve had recently, your length of credit, and whether there are any late or missed payments [in your report.](https://go.hfcu.org/blog/the-4-sections-of-your-credit-report) Second, look at the individual lines of credit. Check out the payment history. It will tell you the exact payment reported as late or missing, so you can follow up or correct errors. We answer quite a few other questions during our credit score seminars. Please check our [events pages](https://www.hfcu.org/future-seminars.html) for upcoming webinars and seminars.   You can also learn to read a credit score by requesting a [credit score review](https://www.hfcu.org/credit-score-review.html) of your own. It is a free service for our members†  [![Get a free Credit Score Review](https://no-cache.hubspot.com/cta/default/118438/b13728df-1cb3-4aea-a79e-dfdfc42dfb2a.png)](https://cta-redirect.hubspot.com/cta/redirect/118438/b13728df-1cb3-4aea-a79e-dfdfc42dfb2a) †*Note that Hanscom FCU's Credit Score and Report Review requires a hard pull on your credit, which will temporarily reduce your credit score.*   *Others are reading:* - [Simplify Your Life With a Sinking Fund](https://go.hfcu.org/blog/bid/182612/simplify-life-with-a-sinking-fund) - [The Only Way to Remove Accurate Negative Items on Your Credit Report](https://go.hfcu.org/blog/the-only-way-to-remove-accurate-negative-items-on-your-credit-report) - [3 Tips to Boost Your Credit Score Quickly](https://go.hfcu.org/blog/3-tricks-to-boost-your-credit-score) - [The Difference Between a Soft and a Hard Credit Inquiry](https://go.hfcu.org/blog/credit-know-how-soft-vs.-hard-inquiries) - [How a Credit Score Review Saves You Money (and Headaches)](https://go.hfcu.org/blog/how-a-credit-score-review-saves-you-money-and-headaches)   ** [Credit Cards](https://go.hfcu.org/blog/topic/credit-cards), [Credit Score](https://go.hfcu.org/blog/topic/credit-score), [Debt](https://go.hfcu.org/blog/topic/debt) [** How to Manage Your Money After a Natural Disaster ](https://go.hfcu.org/blog/how-to-manage-your-money-after-a-natural-disaster) [** Protect Yourself From Home Equity and HELOC Scams ](https://go.hfcu.org/blog/bid/184563/your-heloc-is-a-matter-of-public-record-treat-it-accordingly) ### About Author ![Hanscom Federal Credit Union](https://go.hfcu.org/hubfs/HFCU-Profile-1000x1000.jpg) Hanscom Federal Credit Union Hanscom Federal Credit Union, a purpose-driven $1.9 billion organization based in Littleton, MA, empowers its members to achieve financial wellness. Hanscom FCU serves over 95,000 members across the country and overseas through 16 branches, over 100,000 surcharge-free ATMs, 5,000 contact centers, and a web-based branch. Related Posts [![Navigating Financial Challenges After a Job Loss](https://go.hfcu.org/hubfs/iStock-1444494544.jpg) Navigating Financial Challenges After a Job Loss ](https://go.hfcu.org/blog/job-loss) [![The Benefits of Setting Up Direct Deposits](https://go.hfcu.org/hubfs/young%20woman%20paying%20bills%20on%20couch-1.png) The Benefits of Setting Up Direct Deposits ](https://go.hfcu.org/blog/the-benefits-of-setting-up-direct-deposits) [![Traveling this summer? 9 credit card tips to know](https://go.hfcu.org/hubfs/two%20women%20at%20cafe%20on%20vacation.png) Traveling this summer? 9 credit card tips to know ](https://go.hfcu.org/blog/traveling-this-summer-9-credit-card-tips-to-know) ** - [**](http://www.facebook.com/share.php?u=https://go.hfcu.org/blog/the-top-3-questions-with-answers-we-get-on-credit-scores/) - [**](https://X.com/share?url=https://go.hfcu.org/blog/the-top-3-questions-with-answers-we-get-on-credit-scores/) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://go.hfcu.org/blog/the-top-3-questions-with-answers-we-get-on-credit-scores/&summary=&source=CeBIT) ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ### Comment ### Subscribe To Blog ### Subscribe to Email Updates ### contact **Hanscom Federal Credit Union** 1610 Eglin St. Hanscom AFB, MA 01731 Call us: [800-656-4328](tel:8006564328) [https://www.hfcu.org/](https://www.hfcu.org/) ### About Us [The MoneyWisdom Blog](https://www.hfcu.org/the-moneywisdom-blog.html) ### Social ** ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://www.facebook.com/HanscomFederalCreditUnion The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://X.com/HanscomFCU The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://www.instagram.com/hanscomfcu/ The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://www.linkedin.com/company/hanscomfcu/ The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### http://www.youtube.com/c/HanscomFederalCreditUnion The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ### Popular Posts [What You Need to Know About Putting Your Home in a Trust](https://go.hfcu.org/blog/what-you-need-to-know-about-putting-your-home-in-a-trust) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/Untitled%20design%20-%202022-02-10T072804.753.jpg) [What You Need to Know About Your Federal Tax Bracket](https://go.hfcu.org/blog/what-you-need-to-know-about-your-tax-bracket) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/Untitled%20design%20-%202021-03-22T123305.900.jpg) [6 Boat Types to Get on the Water](https://go.hfcu.org/blog/6-boat-types-to-get-on-the-water) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/images/Jet_Ski.jpg) [23 Organizations Dedicated to the Needs of Seniors](https://go.hfcu.org/blog/23-organizations-dedicated-to-the-needs-of-seniors) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/Senior%20citizens.jpg) [9 Smart Moves for Lottery Winners](https://go.hfcu.org/blog/lottery) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/images/lottery_winner.jpg) ### Recent Posts - [![National Credit Union Administration](https://go.hfcu.org/hs-fs/hubfs/NCUA-logo-small.png?width=95&name=NCUA-logo-small.png) ](https://www.ncua.gov/) [![Equal Housing Lender](https://go.hfcu.org/hs-fs/hubfs/EHL-logo-small.png?width=65&name=EHL-logo-small.png)](https://www.hud.gov/fairhousing) - @ 2023 [Hanscom Federal Credit Union](https://www.hfcu.org/) - Federally insured by the National Credit Union Administration. - [Privacy Policy](https://www.hfcu.org/content/docs/Privacy_Notice.pdf) **Disclosure:** Hanscom Federal Credit Union does not provide and is not responsible for any products, services, or overall website content available at any third-party sites linked within this blog. 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Please consult the privacy disclosures on those linked sites for further information. ```json { "@context" : "http://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Hanscom Federal Credit Union" }, "dateModified" : "September 5, 2021, 12:00:00 PM", "datePublished" : "2021-09-05 12:00:00", "description" : "Get the answers to the 3 top questions we get asked during our free credit score webinars.", "headline" : "The Top 3 Questions We Get About Credit Reports And Scores", "image" : { "@type" : "ImageObject", "url" : "https://f.hubspotusercontent30.net/hubfs/118438/Blog%20Photos%20800%20x%20800px%20%286%29.jpg" }, "mainEntityOfPage" : { "@id" : "https://go.hfcu.org/blog/the-top-3-questions-with-answers-we-get-on-credit-scores", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://cdn2.hubspot.net/hubfs/118438/Logo%202.jpg" }, "name" : "Hanscom Federal Credit Union" } } ```