How to Run Your Credit Score

If you aren't getting the best interest rates, it might be time to run your credit score. Credit scores are numbers that credit bureaus assign to assess borrower risk. Financial institutions use this number to determine which interest rates to offer consumers (or even if they qualify for a loan). In some cases, a low credit score can prevent you from accessing credit, securing insurance or landing employment.

Instructions

1

Gather personal information. Before requesting your credit score, make sure you have personal information handy. Credit bureaus require that you prove your identity. Multiple choice questions will be asked about your finances. For example, you might be asked for the lender of a car loan or the exact amount (to the penny) or your home mortgage.

2

Decide which credit scores you want. Credit scores can be ordered through AnnualCreditReport.com. At this time, you can also print a free credit report from each credit bureau, including Experian, Equifax and TransUnion. Each credit bureau has its own credit score. You can request all three or just one. As of 2010, the cost for each credit score is $6.95. Ordering a credit report is free (once every 12 months).

3

Review your credit score. A credit score of 720 to 849 is excellent. A score of 620 to 719 is average and a score of 349 to 619 is poor. Don't be alarmed if different credit bureaus have different scores. It's normal to have a little variation.

4

Look for inaccuracies. If your credit score isn't what you hoped, review your credit report. Look for inaccurate late payments, credit card limits that aren't correct or other issues. File a dispute with the reporting bureau (see Resources). Requests are typically processed within 45 business days. If approved, your credit score should improve.