Credit Score

Knowing your credit score is something each person should be vigilant about. Asking for your credit report to make sure your credit score is correct is as well, but it is also something most people neglect to do until a problem arises. Your credit score reflects what your credit worthiness is based upon your history of payments on purchases both in the past and currently under payment. Too low of a credit score and you'll find it hard to even get a gas card in the current economy.

Knowing your credit score by obtaining your credit report allows you to make sure that your actual credit score is based on an accurate reflection of your payment history. A low credit credit score for no seemingly logical reason can also be indicative of a potential issue of identity theft or a mistake from one of the reporting agencies. By being vigilant and paying on time, you can maintain a credit score that provides you with the security to be finacially fluid.

Credit Score Range

* FICO Credit scores are rated between 350-850

* The median score for Americans is 723

* FICO scores of 600 or less are considered high risk - the lower the worse the odds of obtaining credit.

* A score of 620 is regarded as the middle ground between a good and bad risk borrower

* 640 is considered pretty good

* A score of 650 is considered average

* Scores ranging from 690-720 are considered excellent

**** Experian and the Vantage score system use a different range for scores that do not accurately translate to the industry standard FICO score.