Free Credit Score: Know Your Score for Free

Your credit score shows the story of your financial history and may be used in establishing how credit worthy you are.

Since this score is an indicator of the likelihood of you paying your bills it is used by financial institutions in determining if you may qualify for credit or charge cards, loans, utilities or other credit.

Your credit score will also be used in determining what interest rate you will be charged if credit is given and the credit limit connected with it. As well a lot of potential employers and landlords will use your credit score to discover if you are responsible with money.

You are eligible to get your credit score free once every twelve months as a resident of the United States.

The 3 primary credit bureaus; Equifax, Experian and TransUnion all practice slightly different scoring models which means you might possess several different credit scores simulataneously at the assorted bureaus. Because of these different scoring methods it's important you obtain your score from all 3 credit bureaus.

The Typical Makeup of a Credit Score

Largely a credit score is determined by considering the following:

-    35% is bill payment history. Tardy payment of bills such as your mortgage, credit cards and vehicle loans will lower your score. Paying your debts on time will strengthen your score in time.

-    30% is a ratio of credit utilization. This indicates the portion of credit limit being used compared with the amount of credit limit still available. Paying down your debt which in turn decreases your utilization ratio will improve your credit score.

-    15% is attributed to credit history length. If you pay your bills on time then as your credit history increases in age so will your credit score.

-    10% assortment of credit used. Adding a variety of types of credit including consumer finance, installment and revolving can help advance your score.

-    10% Multiple credit applications. If within a short timeframe you make numerous credit inquiries or applications you could also adversely affect your credit score. If at all possible make your credit inquiries over a longer period of time.

Credit Score Range

The range of credit scores is from 300 to 850. Typically 60% of all scores are in the range of 650 to 799. 723 is the median score.

Why acquire Your Score on a Regular Basis?

-    To arrange for consumer purchases to be made in the near future

-    When you will be applying for a mortgage or if you'll be negotiating to decrease your present interest payments

-    To make sure you are given the best possible interest rate the next time you purchase a car.

-    To prepare yourself for any feedback you could get from a potential new employer/landlord who may likely check your credit score.

-    To ensure it's right.

-    To protect against identity theft/fraud.

Acquiring your free credit score enables you to be aware of your financial history, your credit potential, how credit worthy you are and to guarantee the data on your report is in deed correct and with internet access being available at every turn getting your score has never been faster or easier.

Simply fill in some basic information like your name, address, social security number and birthdate, then hit "submit" and your free credit score will immediately be at your fingertips.

Because obtaining your credit score is so uncomplicated and is also free there truly is no reason not to get yours today.

Click here to instantaneously download your free credit score.