Infinite Wizdom

You’ve probably been bombarded with commercials lately offering you chances to get your free credit reports and free credit scores. Why all the big fuss? Why all the big hoopla over credit reports and credit scores lately?

Before you can understand what the big deal is, you need copies of both your credit report and your credit score. Let’s begin by obtaining a copy of your credit report. You can get your yearly credit report from the government. You can get all three credit reports each year due to the government’s new law.

You need to get the rest of your financial picture by getting your credit score. Now we got that taken care of let’s work on getting your free credit score. The government does not have a program that allows you to get an free credit score. So the only way to do this is to sign up for a free credit monitoring trial which will give you a copy of your credit score.

With your credit score in hand you are better able to understand what good credit scores are. Your FICO credit score has a range of 300 to 850. The higher the number the better. From 740 to 850 you will have the best credit score and qualify for the lowest interest rates.

This is the main benefit of having a good credit score, you will qualify for the lowest mortgage rates, you will not be denied a job based on your credit score, and you will have the best credit card offers. This is why your credit score is important.

Your credit score comes from the information in your credit report. Ensuring accurate information in your credit report will give you the best credit score. Since you can request your credit reports from all three agencies it would be wise to spread out your request throughout the whole year. That way you can save money on all the financial products you use.