So I checked My credit score today It looks like smashed cheese and that's me putting it nicely lol . I have a free credit credit check with my Capital One bank account .
What’s a credit score?
Don’t confuse your credit score with your credit report.
The data on each of your credit reports is analyzed to assign you a credit score that reflects your risk.
A high credit score means you’re a lower risk borrower who is likely to repay debt.
A low credit score means you’re a higher risk borrower that may not be able to repay debt.
Since you have three different credit reports from each major credit bureau, you also have three different credit scores. Depending on where you pull your credit score, you may be able to get credit scores that reflect data from one, two, or all three of the bureaus.
There are several credit score grading systems, including consumer education scores offered by Experian, TransUnion, and Equifax. The purpose of consumer education scores are to give us a general sense of where we stand.
These scores are not typically used by the financial industry to make credit decisions.
The FICO Score Model
The top tier credit score model that’s most often used by creditors to judge your creditworthiness is the FICO score model. This is the model we’ll go over in this Challenge since it’s the most widely used version.
FICO scores range from 300 to 850:
751 – 850 – Excellent
701 – 750 – Good
641 – 700 – Fair
581 – 641 – Poor
300 – 580 – Very Poor
Usually, you have to pay for a FICO score, but you can get access to comparable credit scores like the VantageScore for free.
How to Grab Your Free Credit Score(s)
You can hop on over to www.creditscorecard.com to get your FICO credit score for free.
You can also check with your bank or credit card company to see if free credit scores are offered to customers. For example, American Express, Bank of America, and Chase all offer free FICO scores if you have certain products.