Whats My Credit Score
Posted: May 3, 2012
One of the most important things you should know about yourself is your credit scores.
Credit Report Scores
Your credit score affects your approval or denial for a car loan, home loan, cell phone or credit cards. It can even determine if you get a job or promotion where you work.
If you want to know Whats My Credit Score, then you can get your score from just one of the credit reporting companies (Equifax, Experian, TransUnion) or you can get all three scores by requesting a Tri Merge Credit Report.
The importance of getting a Tri Merge Credit Report is that all creditors do not report to all three credit bureaus. So, in order to get a full picture of your credit history you need to really see the information that all three credit reporting companies have in their files about you.
What Is Considered A Good Credit Score?
That depends on what you are trying to use your credit score to achieve.
Your score does not have to be as good to get approved for a credit card as it does to get approved for a home mortgage.
But even with credit cards, the higher your credit score the more perks you will be offered by the credit card companies.
Today, you will need a credit score of at least 620 to even be able to apply for a mortgage on a new home or to refinance an existing home loan.
However, once again, the higher your credit score is the better the interest rate will be on your new home loan.
You should get a copy of your credit report in order to determine if everything is correct in your credit history file. If there are errors then these errors could adversely affect your credit score.
You will want to look for any items on your report that may not even be yours. This is not uncommon. You will also want to look and make sure that any items that you have paid off reflect a zero balance on your credit report.
If you have any judgements, tax liens or delinquent student loans then you will certainly want to get all these items cleared to improve your credit score fast.