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Credit Score
A credit score is a 3 digit number that most lenders use to help
predict what kind of credit risk you will be for them.
Because your credit score is computed based on the contents of your
credit report at a given point in time, you can see your score by ordering
your credit report online, and requesting that the score be
included. The report is just $7.95. It is only $5.49 to
include the score and a detailed analysis. Just look for the "Add
your personal credit score" checkbox. Or, (NEW!)
get your instant 3-bureau credit report (Equifax, Experian, Trans Union)
with credit
score included for just $34.95.
 In
addition to your credit report, we compute and show your score, right in
your browser. The score is a number between 400 and 900, on a scale like
that used by lenders and credit card companies. We help you interpret your
level by showing it 3 extra ways: On a grading scale of 0 to 100, as
category from very poor to excellent, and as a percentile -
your ranking compared to all other U.S. consumers.
Where can I learn about my Credit
Scores
In addition to your score, we provide a Personalized Score Analysis.
It is a detailed report, based specifically on the contents of your
personal credit report. It has 5 main sections:
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Personalized Score Analysis
Included!
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About my credit score. What
is it based on? What's the possible range? What other factors are
used for decisions? |
| What my credit score means. What
can be expected for credit card approvals, interest rates, deposits,
and down payments? |
| What does my credit score mean to me?
Knowing the reasons behind your particular score is more important
than knowing your score itself. This knowledge enables you to
proactively manage your credit so you can get better loans. |
What factors are lowering
my credit score? The credit score is based on over 80 factors
grouped into 6 classes. The detailed analysis report specifically
explains in your case, where applicable, which of these factors
gives you a low score, and why.
- Payment
history - Information about the way you paid your credit
accounts in the past, including late payments and bankruptcies.
- Credit
accounts - The number of credit accounts that you have and the
different types of those credit accounts (e.g. credit cards,
auto loans, etc.).
- Credit
usage - The amount of credit you are using, and the amount of
credit still available.
- Length
of credit history - The number of months your credit accounts
have been on your credit report.
- Credit
applications - The number of times you have applied for credit
in the recent past.
- Bankruptcies
- The presence and age of bankruptcy records (if any) on your
credit report.
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| What factors are raising my
credit score? Which of the above factors are working in your
favor? |
Why Should I get my credit score?
| When you order your own personal credit
report, you can see the same credit history a lender sees, but a
score can tell you more. It tells you how the lender is likely to evaluate
your history.
When they order your credit report, lenders and credit card
companies may request that the credit reporting agency compute and
include your score based on the contents of your credit
report. Methods for computing scores were developed using
statistical analysis of millions of lending decisions, and how well
borrowers met their obligations. |
Using
a scale widely accepted by the lending industry, the majority
of Personal Credit Scores are between 400 and 900. Higher
scores are better.
- 15% of the US population is below 600
- 35% of the US population is below 670
- 50% of the US population is below 710
- 70% of the US population is below 755
- 90% of the US population is below 790
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If you want to get an idea of your total credit picture, having your
credit score as well as your credit report can help you in several ways:
- Know where you stand before applying for credit: prevent
surprises when applying for credit by knowing where you stand
- Understand your total credit picture: this is important
because lenders often review both your credit report and a credit
score when considering an application
- Get personalized tips and analysis: knowing your score is
not enough - the key is knowing what you can do to maintain or
improve it
- Learn what factors may influence your score: understand
what issues can positively and negatively affect your credit
standing
- See how your score compares to other U.S. consumers: learn
how your credit score measures up against others in the US
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