About your Credit Score

Credit scoring systems assign points to factors that help lenders predict who is most likely to repay a debt. Your credit score helps predict how likely it is that you will repay a loan and make the payments when due.

Your credit score and a personalized analysis is FREE when you order the comprehensive three credit bureau merged credit report or just the single-bureau credit report.

The most commonly used scoring systems give you a number from the mid-300s to the mid-800's, with high scores being better. Scores vary depending on the type of credit you are seeking. For example, recent auto loan history is weighed more heavily when applying for a car loan.:

How do they Compute Your Credit Score?
Current balances on accounts	Accounts showing all payments were on time are positive.
Reported delinquencies	Negative, especially if severe and recent.
Bank revolving accounts	Lack of accounts, or too many can be negative.
Number of accounts with balances	Too many credit card accounts may have a negative effect on your score.
Number of finance company accounts	Loans from finance companies may negatively affect your credit score
Recent payment history	An insufficient credit history may have an effect on your score, but that can be offset by other factors, such as timely payments and low balances
Number of recent inquiries	Not all inquiries are counted. Inquiries by you, or creditors who are monitoring your account or looking at credit reports to make "prescreened" credit offers are not counted.
Number of accounts opened within the last year	Adding too many new accounts can be negative.
Proportion of balance to your credit limit	If the amount you owe is close to your credit limit, that is likely to have a negative effect on your score
Length of time accounts established	Long-established accounts are positive
No recent (non-mortgage) account balance information	Can be negative when seeking mortgage loans
Legal item filed or collection item reported	Negative, effect decreases with time.
Accounts not paid as agreed and/or legal item filed	Your score will be affected negatively if you have paid bills late, had an account referred to collections, or declared bankruptcy
Employment and residency	Longer time in your job and at your residence can help your score.

If your score is less than optimal, reason codes are given, which helps the credit grantor indicate why you have been declined credit. For example: "Too many accounts opened in the last 12 months." Each credit-granting company decides the cutoff points. Borderline applicants are sometimes given to management for a more personal review.

Can I get my credit score?
Until recently scores were not available to individual consumers over the Internet. That has all changed!

Click here to order your credit score with a single credit report!

Or, click here to get your credit score FREE with a 3-in-1 merged credit report!

Keep in mind...

Your score is likely to go down by a few points with each inquiry by potential credit grantors. Credit inquiries here (by you) do not affect your score.
Your credit score will change with the age, balance, and status of your credit accounts.
Lenders use different or custom scoring models, so the numbers will vary, and they may be meaningless to you.
Some companies do not use credit scores.

How can I improve my Score?
Concentrate on paying your bills on time, paying down outstanding balances, and not taking on new debt. It's likely to take some time to improve your score significantly.