Credit Score Info

Your FICO credit score is a numerical score derived from your financial activity over the life of your credit history. FICO credit scores change frequently with new activity in your credit report. It can range from a score of 300 to 850, with 850 considered excellent and 300 considered very bad credit. Your FICO score is the number banks and other financial institutions use to decide whether they will loan you money or not. The better your FICO credit score, the more likely you will get the loan.

Things such as late credit card payments, or other bill payments, have a very negative impact on your score. For example, someone with an average good credit rating of 700, can increase their score by as much as 20-25 points, simply by making all of their monthly bill payments on time. Increasing debts can have a negative affect your credit score. By maxing out all of your credit cards you can lower your credit score by as much as 60 to 100 points.

The FICO Score Scale - 300 to 850

700 - 850 -- Excellent or Very Good Credit

680 - 699 -- Good Credit

620 - 679 -- Okay or Average Credit

580 - 619 -- Low Credit

500 - 580 -- Poor Credit

300 - 499 -- Bad Credit

Knowing where in this spectrum your FICO score is located can help you determine the types of loans and interest rates that you can expect to receive. The more you educate yourself on your own personal financial situation, the more you can do to improve it and make the most of your money.

Make it a priority to know what's in your credit report and what your FICO credit score is. If you let your credit score drop, it could take many years to get it back on track, and could also lead to financial disasters.

How Do I Check My FICO Score and Credit Report?

Now that you are aware of how your FICO score impacts your finances, you may be wondering "How do I get my free online FICO score?"

Easy, To learn more about obtaining a free online credit report, visit http://freeonlinecreditcheck.googlepages.com/, an excellent resource on credit reports and your credit score. There are dozens of websites that offer totally free credit reports.

There are so many, in fact, that it can be a little bit overwhelming when trying to decide which company to choose. Some things to look for when choosing a credit reporting service are: ease of use, customer service and assistance, detail of reports, accuracy of reports, and whether they offer to assist in repairing your credit score.