Your Free Credit Report
The Fair Credit Reporting Act requires that the 3 major reporting agencies must provide you with a free copy of your credit report, at your request, once every 12 months. To obtain your free report visit annualcreditreport.com or call 1-877-322-8228
What Is A FICO Score?
A credit or "FICO" score is the number that a lender will use to determine the creditworthiness of a potential borrower. Usually, the higher the credit score, the less chance there will be of the borrower defaulting on a loan. The term FICO refers to the scoring model created by the Fair Isaac Corporation in the 1980s.
There are 3 major credit reporting agencies:
Each uses a slightly different system to determine credit scores, however the major factors which affect your credit score are generally the same.
• Payment History
• Total Debt
• Number of late payments
• Length of Credit History
• New Credit / Recent Inquiries
Your FICO score may vary from month to month but there are some proven ways to maintain a good credit score long-term.
• Make Payments On Time!
• Manage your debt
• Check your credit score often and dispute errors
• Avoid new inquiries if possible