Is Checking Your Credit Score Difficult?

A person’s credit score is one of the most important number in their lives. There’s no more important single financial number for any one person. The purpose of a credit score is to give an immediate generalized number which represents a person’s ability to pay back any money they may be loaned.


It can be used as a representation of a person’s financial situation.

Unfortunately many people are unaware of their credit score. Financial responsibility requires a person to understand what their credit score is and how it’s changed. Knowing your credit score and checking your credit report also helps prevent from identity theft and keeps a person ready for the next time they need to take advantage of their credit.

How are Credit Scores Created?

The most common credit score is the FICO score, which checks your credit and ranks it between 300 and 850. Credit scores are reasonably new, with the FICO score being implemented in 1989. Before that, loan officers needed to amalgamate all the information on their own.

Credit scores are broken up into five different sections. Newly taken credit and the type of credit being used by the person accounts for 10% of the score each. The length of a person’s credit history accounts for 15%, which makes using credit early a good choice. The amount a person owes accounts for 30% of their credit score, while their payment history makes up the largest chunk at 35%.

Credit scores don’t measure everything, but they are a history of large credit based transactions. This is why they are so important to monitor. People who have committed identity theft against people and use their credit need to be caught quickly, or a person’s credit can undergo extensive damage.

Where Do You Check Credit Scores?

Typically, credit scores and reports are created by the three major credit unions. These credit unions sort through all the information necessary to create a score and makes it available to banks, financiers and people interested in credit.

Your credit score can be negatively affected by too many new credit inquiries. Many people think that means that checking your own score will damage your credit. This is not true! There are hard inquiries and soft inquiries. Checking your own credit score is a soft inquiry. It’s typically free to do once per year from each of the credit unions. So you can check it every four months if that’s something you want to do for free. It can be done more than once per year from each for a fee .

The best places to check your credit score is through the websites of the credit unions themselves. In addition there are some websites like “” which will allow for a person to get their report each year to check out their credit score. Finally, there are still people who do not use the internet for a variety of reasons. It would be wrong to exclude them from being able to check their credit score. People can call 877-322-8228 to make a request for their credit report to be sent to them.