How to Check Your FICO Score & Credit Report Online
Posted on October 17, 2009
Filed Under Credit |
Your FICO credit score is a numerical representation of your financial history and current credit situation. This score ranges from 300 up to 850, with 300 being the worst possible credit score and 850 being the best possible score. Simply put, the higher your score is the more likely you are to be trusted with a loan, credit card, or mortgage.
Your credit rating is extremely crucial, as it is often a determining factor when you apply for a mortgage, loan, credit card, or make a major purchase, such as a car. The higher your score, the more likely you are to get approved. There are several companies in the United States which keep track of your financial history, these companies were setup in the 1970s and are called “consumer reporting agencies.” The three largest of these agencies are Equifax, TransUnion, and Experian.
The first step you should take is to obtain a copy of your credit report and FICO score, this will give you the opportunity to see exactly where you stand credit wise, shedding light on any problem areas. Once you have assessed your current credit situation, you can make improvements to your score if it falls into one of the lower categories below.
FICO Score Ranges:
800-850 = Excellent Credit
700-800 = Good Credit
620-700 = Average Credit
580-620 = Low Credit
500-580 = Poor Credit
300-500 = Bad Credit
If you decide that you would like to improve your FICO score there is one quick, free, and easy thing you can do yourself to get a quick credit boost. Once you have a copy of your credit report, carefully check over all the negative entries for any errors or inaccurate information. It is a fact that as many as 80% of all credit reports contain errors which can negatively affect your credit. If you find any errors, simply contacts the credit reporting agency responsible and they will quickly remove the erroneous entry.
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 FICO score online?” Easy, To obtain a free online credit report, visit http://FreeCreditReports101.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.
Find Out What Your FICO is… Click Here
Remember, check you credit report at least once a year.
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