Not always. Most lenders rely on FICO scores, while some prefer VantageScore. The version used can vary by loan type. For example, a credit card application may use a different scoring model than a mortgage or a home equity line of credit.

Key factors that shape your credit score include your payment history, the amount you owe and your credit utilization, the mix of credit accounts you hold, and the length of your credit history, which reflects the age of your oldest account.

Yes. A credit card is a revolving account that lets you borrow, repay, and borrow again up to your credit limit. A line of credit works more like a loan—you access funds (often by check or transfer) up to a set amount and repay with interest in installments.

Your score can rise or fall depending on financial habits. On-time payments, keeping balances low compared to credit limits, and managing the number of active accounts can boost your score. Late payments, high utilization, or too many accounts can lower it.

Lenders typically share details like when an account was opened, current balances, payment history, and account status. This includes whether the account is active, overdue, or in default, and it helps credit bureaus update your report each month.