Your FICO score is a number which represents your financial standing, it is calculated using a complexed formula containing your previous and current financial actions. FICO scores range from 300 to 850, with 850 being the best, and 300 being the worst. Things such as balances and payments to credit cards, utility bills, mortgages, car leases, and other loans are all factored into your score.
One of the most important steps you can take, when it comes to your finances, is to keep track of your credit reputation. When you check your report and FICO, you will be able to see exactly how your financial actions are affecting your credit, allowing you to make any necessary adjustments and maximize your efforts. There are hundreds of factors that can affect your score, some of which can be errors which are not your fault. So make you you keep track of your finances, and to detect and report any unusual changes.
FICO Score Range (between 300 and 850)
700 - 850 = Excellent or Very Good
680 - 699 = Good
620 - 679 = Average
580 - 619 = Low
500 - 580 = Poor
300 - 499 = Bad
By knowing where on this scale your score is located, you can better determine which types of loans and interest rates you can expect to receive. The more you educate yourself on your own personal financial situation, the more you can do to improve it and make the most of your money.
Make it a priority to frequently check what your FICO score and credit report. If you let your credit score drop, it could take many years to get it back on track, and could also lead to financial disasters.
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 online FICO score ?" Easy, To learn more about obtaining a free online credit report, visit http://freeonlinecreditcheck.googlepages.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.
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