It's a good idea before you start shopping for a home loan, auto loan, or credit card to find out how your credit stacks up. See the same information lenders look at when they process your application. Find out about your FICO credit score, and see the information that major credit bureaus are storing and sharing with your potential credit card providers. Cardpick has chosen the following top consumer credit reporting service providers to help you monitor your credit as well as to help you protect your important personal information from identity theft.
~ CreditReporting.com ~ This one provides visitors with access to a merged credit report
~ Equifax ~ This one is one of the three major credit reporting bureaus and offers consumers industry leading credit management and identity theft protection products
~ Experian ~ This one is another of the three major credit reporting bureaus and provides a free credit report with a free 30-day trial
~ myFICO.com ~ This one is the only one that shows you your actual FICO score, used by credit card, mortgage, auto loans, and other lenders when you apply for credit
For additional background information, see our posting on October 14, 2007, Credit Score Refresher.

Credit Score Refresher

According the Federal Trade Commission, a credit score is defined as a numerical value used by lenders, landlords and employers to assess the credit risk of an individual. It is used to predict how credit-worthy a person is, and how quickly they can pay off a loan. The better your credit score, the more likely you will pay off a loan faster and be a lower financial risk to a lender. Credit scores are also called FICO scores after the company that invented them, Fair Isaac Corporation. FICO scores use five different categories to calculate your credit score. Your score is a number between 300 and 850. The higher the numbers, the better your score. Thirty-five percent of your credit score is your credit card payment history. 30 percent is the actual amount of money you owe. Ten percent includes the number of credit inquiries, the number of new credit accounts and the diversity of the types of loans you have. 15 percent factors in the time period of your credit history. A high credit score may qualify you for lower interest rates and save you money over time. Find out your credit score for free, from our recommended provider, FreeCreditReport.com. See credit cards you can apply for that fall into your credit score range.