Learn Your Credit Rating:

Understanding your credit rating and fixing any potential problems could translate into better credit terms and big savings for you. Below are several online options that you can access to learn more about your credit record.

Check out your credit reports.

It’s smart to review your reports periodically to verify that the information is accurate, especially before you need to borrow for a large purchase, such as a vehicle or house. Also, it’s a good idea to check your credit reports annually for any accounts or transactions that were incorrectly attributed to your credit.

For details on how to order your Free report, visit the Federal Trade Commision's website:
[http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm]

alternatively, visit one of these vendors:

- Experian 888-397-3742 www.experian.com 
- Equifax 800-997-2493 www.equifax.com 
- Trans Union 800-888-4213 www.transunion.com 

Know your score.

Along with your credit report, you can now obtain your credit risk score for a small fee from http://www.myfico.com Lenders use credit scores to quickly summarize your credit history and to help them objectively determine how likely you are to repay the debt.

A credit score is a number that reflects your credit risk to lenders, typically with a higher number indicating lower risk. Credit scores are calculated by using a mathematical formula that evaluates the information in your credit report and compares your information to the past patterns of millions of other consumer credit files.

Your score, which changes as the information in your report changes, is not part of your credit record; it’s calculated at the time a lender requests your credit report. Your score is based on the following criteria: