| Your FICO score, calculated by information in your | | | | entry in your credit report can make a significant |
| credit report, is one of the most valuable tools in your | | | | impact on your life! |
| financial arsenal. FICO (named after Fair Issac Corp, | | | | You can obtain a copy of your credit report and FICO |
| the company that pioneered credit scoring) | | | | score by either going online or using the postal service. |
| mathematically calculates your late or timely payments | | | | Experian, TransUnion and Equifax, the three agencies, |
| and other factors in your credit history into a number | | | | offer free copies of your report and FICO score once |
| that indicates how good a credit risk you would be. | | | | per year. You will find forms online that you can use to |
| Hundreds of bits of financial information are used in | | | | request these reports. Take care, however, that you |
| calculating your score and it's important to be certain | | | | don't inadvertently get taken in by the many look-alike |
| that some of those factors aren't errors or even credit | | | | websites that often imitate these legitimate reporting |
| fraud. Therefore, you should check your credit report | | | | agencies. The imitators will offer the free reports but in |
| and FICO score at least once a year and even more | | | | authorizing it, you're actually signing up for a monthly |
| frequently if you relocate, change jobs or open new | | | | credit reporting service that will charge you a fee. |
| accounts. Quickly correcting any errors that may be in | | | | Unless you want this type of service, be very careful |
| your report is vital to your financial health. | | | | to read all the agreements and fine print, even on the |
| Another, very important, reason to check your credit | | | | three legitimate websites. |
| report is your present and future employers. Checking | | | | Checking your credit report and FICO score at least |
| a job applicant's report has become standard practice | | | | once per year will help insure that you stay financially |
| in trying to determine if they'd be a good fit with the | | | | healthy and maintain your good credit reputation. |
| company. You can see how an error or fraudulent | | | | |