So with Section 4,
this is those promotional inquiries we were talking about.
So, they might've obtained your name from a credit report,
even your contact information.
But they haven't seen your full report.
They haven't looked at your score, they haven't even, and
you have authorized them to do so.
So it doesn't impact your score.
If those types of offers are annoying to you, you can always try doing the opt out
numbers and seeing if you can get on the list to make sure that the information is
not sent on your behalf, so that you're able to reduce the amount of junk mail.
Section 5, right, similar to the inquiries we've been talking about.
These are account review inquiries.
This is going to be someone that you're already doing business with,
who's also reviewed your account to see whether or
not they want to provide you with additional services.
So let's say, for example, you're working, you're working with bank ABC.
They might be pulling your information, taking a look at it to say,
do we want to offer you a loan.
Do we want to offer you a new credit card?
Do we want to raise your limit, for example.
So these, also, will not typically impact your score as well.
But, if it's the insurance company doing it, depending upon what they see,
that might impact your insurance score, which is another day's topic.
So the report versus the score.
The reports are based on the information obtained by these companies,
driven by your lenders.
And the data is used for things like your scores.
The scores, themselves, are created from one entity.
There are some competition out there, but
the major score that's used is called the FICO score.
And we'll see that it's going to be lowered by specific factors,
which we'll review.
Late payments, maxing out your credit card,
owing too much money relative to your income or your credit lines.
And how often you're asking for new credit.
