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What Your Credit Score Means

Credit scores are created by credit report agencies to determine your borrowing ability. Each agency has a different scoring form they use, but they work similarity. Credit scores are designed to help financial institutions predict the risk associated with a financial transaction. In general the higher the credit score, the lower the risk. Scores typically range from 250-877.

Credit scores are determined by several factors from your credit report and each factor has a level of importance.

  • Amount and type of debt you have
  • Number and age of credit accounts
  • Timeliness of payments, including late payments or collections
  • Public records like liens and judgements

Credit reporting agencies

More information about your credit can be found at the websites of each credit agency. Each agency can provide you with a copy of your credit report and credit score. A free annual credit report can be provided to you by them. Although, there may be additional charges for other services you request.


Website: www.experian.com

Toll-Free number: (888) 397-3742

Trans Union:

Website: www.transunion.com

Toll Free number: (877) 322-8228


Website: www.equifax.com

Toll-Free number: (800) 685-1111