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  • Start Here
  • Personal Finance Topics:
    • Credit Scores
    • Credit Cards
    • Buying a Home
    • Debt Capacity
    • Retirement Basics
    • Investing 101
  • Smart Bitch Dumb Dog
    • The Book
    • Bones to Chew
    • Book Photos
    • Book - Chapter Summaries
    • Book - Dog Commands
    • Blog
  • Contact Dr. Griswold
    • Contact Information
    • About the Author
  • In the news

CREDIT SCORES

Your credit score is a number assigned to you based on your history with money.  Three companies gather data and create credit reports which are used to calculate your score: TransUnion, Equifax, and Experian.

How your FICO is calculated:

FICO Scores are calculated using many different pieces of credit data in your credit report. This data is grouped into five categories: 

  • payment history (35%)
  • amounts owed (30%)
  • length of credit history (15%)
  • new credit (10%)
  • credit mix (10%)




Get your FREE credit report!

Get your free credit report at https://www.annualcreditreport.com/index.action



Remember, the credit report does not include a credit score. The credit report includes information used to calculate your score.  


Your credit score will have a significant impact on the rate you will pay when borrowing money. 

  • Credit scores range from 350 to 850
  • Higher is better
  • Your goal should be a score above 720. 


Where can you get your credit score?  There are several free sites including Credit Karma.  Do not pay for your credit score or enter a credit card number.  https://www.creditkarma.com/


Some credit cards will provide your credit score each month.  (Read more about this in the section on credit cards.) 


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