It’s 10 o’clock at night, do you know where your credit score is? If you answered no, you’re part of the majority of Americans who have no idea what their credit is up to, and that makes me sad. Your credit score is one of the most important parts of you financial life, and thus deserves to be treated with as much care and protection as you would give to your first born child. So stop being a bad parent to your credit, and get into the habit of checking your credit report and score at least once every year. Trust me, it’s worth it! We have many more Credit Repair Articles Now Available.
Your credit score, commonly referred to as your FICO score, is a three digit number ranging from 300 to 850. This rating is determined by a calculation that includes all your current and previous financial activity, such as bill payments, credit limits, and amount of debt. Your credit is used by all sorts of companies any time you go to take out a loan, open a credit card, apply for an apartment, get a cell phone, and even when you apply for a job. Not only does your FICO score determine whether or not these activities result in success, it also determines your interest rates. Yikes! Having a higher credit rating can save you thousands of dollars a year, but you’ll never know where to begin until you check your score.
The easiest way to get a free credit check is (like everything else these days) on the Internet. There are dozens of fancy high-tech credit reporting websites online that can deliever your credit report and score to you faster than you can say “I love my credit” – which is something I say all the time, by the way. Once you have received your free FICO score you can determine where it stands. The average American credit rating for 2010 is 683, which would be considered a B+ rating. Any score over 720 is regarded as an A grade score, and a score over 740 is considered excellent, getting you an A+ and a little gold star sticker. If your score is under 620, you should consider learning more about credit repair and begin taking steps towards improving your credit. We have many more Credit Score Building Articles Now Available.