#annual credit score for free
Credit Reports & Credit Scores
The Basics of Your Credit Score and Credit Reporting
If you have a good credit score, then you will be approved for:
- Home Mortgages
- Student Loans
- Credit Cards
- Auto Loans
The better your credit score, the better rates you will get for your loans. And that will save you a lot of money.
What is a Credit Score?
How many Credit Scores do I have?
You have 3 credit scores. You can obtain a free credit report from each main credit reporting agency:
What is an Annual Credit Report?
A credit report is a document provided by a credit reporting agency that reveals an individual’s past credit history.
How do I know if I have an Annual Credit Report?
You will have a credit report if you have every applied for a student loan, car loan, mortgage loan or credit card
What determines my Credit Score?
- Payment History – Have you paid past accounts on time?
- Amount of Money you owe – You don’t want to owe too much money on too many different credit cards.
- Credit History Length – The longer you have been establishing a good credit history, the better.
- New Credit Accounts – Opening too many different accounts in a short amount of time shows lenders you are not financially stable.
- Variety of Credit – It’s good to have a healthy mix of different credit scores, such as for credit cards, loans and mortgage payments, but having too many will lower your credit score.
What is a Good Credit Score?