One of the main consumer benefits of credit scoring is the reduction in time it takes to obtain a lending decision. If your credit score fits into a lender’s requirements, your loan decision will take less time because of computerized underwriting systems. Another benefit involves the anonymity of the credit score. The credit score DOES NOT include factors like race, martial status, place of residence, or any other possible discriminatory areas. The credit score is solely based on your past and present credit performance. The only disadvantage of credit scoring is the fact that scores are calculated using information provided by a credit bureau. If any of the information reported to a credit bureau is incorrect or derogatory, your credit score will be affected. Luckily, mortgage lenders/brokers are aware of this potential problem and ways exist to correct your credit report if needed.