Your Credit FICO Score
Your credit score may change from month-to-month and is based on a variety of reasons such as:
- How you pay your bills
- Loans you have
- Credit cards you may have opened
- Number of companies that checked your credit report
- 1. Payment history to determine how you pay your monthly bills.
- 2. Current debt with loans and credit cards. 3 – Length of time you have had credit or how long you have had credit cards and loans.
- 3. The type of credit you have.
- 4. Credit inquiries on your credit report.
- Excellent: 750 to 850
- Good: 720 to 749
- Fair: 660 to 719
- Uncertain: 620 to 659
- Poor: 300 to 619
The credit score is typically from one of the three major credit bureaus which include Experian, TransUnion, and Equifax. You are entitled to 1 free credit report within a 12-month period from each of the three agencies which are available at Annualcreditreport.com. The report doesn’t list your credit scores, which is available for a fee.
In some states, such as California and Colorado, you can get a free credit report within 30 days of being denied credit or receiving sub-normal credit terms from a lender, due to their credit rating.
You can increase our FICO score by improving your finances. You FICO score will increase if you:
- Correct errors on your credit history
- Pay off you account balances
- Pay you debt on time
- Increase your savings
- Minimize the amount of credit you apply for