Simply knowing "the average credit score" is far from enough. It's more important to understand some of the basics behind your credit score. Learn more here.
Your credit score is a numerical reflection of your total credit picture, and quickly depicts what level of credit risk you are. Credit scoring companies use formulas to derive your scores based on the information in your credit files at the three national credit reporting agencies — Equifax, Experian and TransUnion.
Simply being "average" may not qualify you for the best loans and rates. For these opportunities, it's helpful to have your credit score fall into the best risk category for lenders.
Your credit score can face many threats, some of which you have control over, and some you may not. Of course, among the best ways to help your score is by making on time payments and paying off your loans. In addition, improving your credit/debt ratio — the amount of available credit that you are not using currently — can also have a positive impact. It also helps to review your latest triple bureau credit report periodically throughout the years to ensure that they remain accurate, and if not, correct any issues quickly before they can cause too much harm.
Another threat facing your credit is that of identity thieves and other criminals. If someone is making false charges in your name, your credit score and credit profile could be impacted negatively for years.
FreeScoresAndMore offers an array of services to help you stay on top of your credit history. For starters, you can receive your latest triple-bureau credit report and scores every month, so you can stay on top of what's in your credit files and verify the information is accurate. FreeScoresAndMore also provides daily triple-bureau credit monitoring, which scans your credit files for certain changes that could affect your score. If one of these changes is discovered, FreeScoresAndMore sends an alert to you and provides the resources you need to assess this activity and dispute it if necessary. See details.
FreeScoresAndMore's credit score simulator and financial calculator suite also enable you to see how making a few changes in your payment habits could improve your credit standing and discover more effective ways to pay down your debt. And, should you ever have trouble understanding anything associated with your credit files, or find an inaccuracy or potential issue, FreeScoresAndMore is there to help, with toll-free support and assistance to help you every step of the way.
Viewing your latest credit report and VantageScore credit scores™ from FreeScoresAndMore takes seconds. Best of all, you can receive your credit scores — and enjoy all of the other benefits FreeScoresAndMore offers — when you sign up to try PrivacyGuard. Sign up today, and understand your credit scores.