What’s Your Credit Score?

This is a big question! Your financial future, as long as you are and remain a beneficiary of credit, will be determined to a large extent by your credit score. From credit card interest rates to getting a first or second mortgage, accessing capital to start a company or even medical emergencies…most of us rely on our ability to access funding through the mechanism of lending.

If you’re ready to find out what your credit score is right away, try out Credit Report .com, click below to check it out!

If you’re not quite ready and just need some information — we’ve got you covered.

Facts About Your Credit Score

Learn about your credit score – we’re building out a wealth of information related to analyzing, monitoring and continuously improving your credit score. Here are some answers to common questions people have about credit scores and credit scoring procedures in general

• How your credit score affects your life
• The origins of credit scoring
• Consumer Fight For Truth About Credit Scores

How Credit Scoring Really Works

After seeing just how credit scoring and reporting has evolved in the recent past, you should review just how the scores work and how the credit score calculations are actually computed; additionally, who is computing them! I bet you didn’t know that income isn’t even a part of the calculation! Important matters include:

• What’s the average credit score?
• What’s in a credit report and how does it affect your score?
• Calculating your credit score
• Most critical factors impacting your credit score
• Are credit scores constant across the 3 credit bureaus?

What’s my FICO Score Anyway?

The FICO score is a 3 digit number bound between 300 and 850. Over three quarters (75%) of all mortgage assessments are based on the FICO score, which was created by Fair Isaac. Fair Isaac was founded in 1956 by an engineer, Bill Fair, and a mathematician named Earl Isaac. Since then, Fair Isaac has become the industry leader in credit scoring and financial decision management tools.

VantageScore vs. FICO

In March of 2006, the 3 credit bureaus Experian, Equifax and Transunion announced a new credit scoring algorithm called “VantageScore” which assigns a numerical rating between 501 and 990. The new scale is based upon the grading system we all know well from our secondary schooling. But what’s the difference between VantageScore and FICO?

Improving Your Credit Score

Once you actually have access to your credit score via your credit reports from all 3 bureaus, it’s time to act and raise your credit score to an acceptable level if it’s not there already. Topics here include:

• Interpreting your credit report
• Paying down debt
• Paying bills on time
• To close or not to close
• Applying for credit the right way

Credit Scoring Myths

Given the complexity of this topic and the fact that nearly everyone has a credit score, it’s only natural that bad information finds its way onto the scene. We look at and debunk the top 10 myths of credit scoring and help you make the most out of your credit report!

Take Action Today and Really Improve Your Credit Score

We interview actual people who through using information in their credit report, made changes in their personal financial life and truly improved their credit score. This feature is on it’s way so be sure to stay on the lookout!