Your credit rating is a good indication to banks and other companies about your creditworthiness.
Your FICO credit score is affected by your payment history, current debt, length of credit history, your new accounts and inquiries, and types of credit used. FICO is the most widely used scale for credit ratings.
Is this like golf where I want the lowest score possible?
No silly! The higher your credit score, the better! Credit scores range from 300-850.
How do I get my credit report with my credit score? Who calculates the score?
There are three major credit bureaus that calculate your credit score. They are Experian, Equifax, and Transunion. Their job is to collect information such as your borrowing and repayment history and sell it to lenders. You can call or go online and you will receive a credit report in about 15 days.
Let me know what it is when your report is mailed in!