What is a Credit Score?

Credit scores are reported as a number, typically between 330 and 830. The higher the number, the better the score. Creditors see the number as an indicator that you will repay a loan, make your payments, and make them on time.

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Why should I know my score?

Lenders may use your credit score to help determine your credit risk.

Potential employers, landlords and cellular phone companies may check your credit as part of their evaluation process.

Home and auto insurers may look at your credit when calculating their insurance plan rates or required deposit amounts.

A higher score can mean lower rates and faster approval on new loans.

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What factors make up a credit score?

Generally, credit scores are affected by elements in your credit report, such as:

• Number and severity of late payments
• Total debt
• Type, number and age of accounts
• Recent inquiries

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