What is a FICO score?

A credit score is a number that is used to predict how likely you are to pay back a loan on time. Credit scores are used by companies to make decisions such as whether to offer you a mortgage or a credit card. They are also used to determine the interest rate you receive on a loan or credit card, and the credit limit. Learn more about credit scores.

Tip

To get and keep a good credit score:

Pay all your bills on time. Apply only for the credit that you need. Don’t use too much of the credit that is available to you. Request and review your free credit report every year especially if you are shopping for credit or applying for anything where credit reports are relevant, such as for a job or rental housing. Dispute any errors you find in your consumer reports.

If you are not in the market for credit, we suggest that you block third party access to your credit reports through a ”security” freeze.” Doing so may reduce the risk of fraudsters opening a new credit account in your name where the use of a credit report is a prerequisite to approving a new credit account. The nationwide credit reporting companies are required by law to freeze and unfreeze your credit reports for free if you request it.

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