Checking Your Credit Report

In order to check your credit, you will need to contact one or more of the agencies above. You can visit their websites individually and request a credit report. Alternatively, you can visit AnnualCreditReport.com and request your report from one or all of the big three. You are entitled to one free credit report each 12-month period from each of the three agencies. You can request your report again within that period, but you may be charged a fee.

Once your have your credit score, what does it mean? People talk about good credit and bad credit, but rarely do they list the actual numbers involved. Here is an idea of what the credit score range looks like. Keep in mind that most credit scores range from 300 to 900.

  • Under 500: This is the lowest of the low. It is difficult to get a credit score this low, and once it has reached this point, it is difficult to fix it. You will have a had time getting any loans, and those you do will come with interest rates akin to the worst payday advances. If your score ever reaches this point, you would do well to visit a credit repair agency for assistance
  • 500-580: This range is considered bad credit. You will still be able to secure financing, home loans, auto loans and other borrowing. However, you will find high interest rates across the board. At this stage, a credit repair agency can help quite a bit
  • 580-619: While still considered poor credit, this particular range is more acceptable. You will still encounter high interest rates, but you won’t suffer as much from denied financing. Diligence and monitored financing can improve a score from this level without the aid of a repair agency, but you can still benefit from their help if you have a particular debt or nuisance pulling down your score
  • 620-680: This is a fair credit score, and you won’t have much trouble financing any purchases. You can, however, still benefit from improving your score
  • 680-720: At this range, your credit score is about as high as it will go without detailed monitoring and impeccable financial responsibility.
  • Above 720: At this point your credit score is excellent. No loan will be a challenge and you will have amazing deals with interest rates. This is the level everyone should aspire to reach, despite how much work it entails