How can I check my credit score?
YOUR credit score plays an important role when and if you apply for a credit card, loan or mortgage. The score determines your creditworthiness to lenders, and whether you're a risky borrower or not. Below we explain how to check it. There are plenty of ways to check your credit score - and you don't have to pay for them. For example, many credit card companies, banks and lenders have started providing credit scores for their customers. It may be on your statement, or you can access it online by logging into your account. Wells Fargo customers, for example, can get access to their FICO score for free online. There are also other free credit scoring websites, such as Credit Karma, Creditwise and Credit Scorecard. The credit report is the information that lenders and companies use to calculate your credit score. You're typically entitled to one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies. These agencies include Equifax, Experian, and TransUnion. However, due to the Covid pandemic, you can get free credit reports every week until April 2022. You can order this from annualcreditreport.com, the only authorized website for free credit reports, according to the Federal Trade Commission. Alternatively, you can call 1-877-322-8228. FICO, the most widely known credit scoring system, and its rival VantageScore both use a range of 300-850 points. The higher your credit score is, the better chance you have of getting the best deals. Below we list what's considered a good and bad credit score, according to both systems. FICO  Poor: 300-579  Fair: 580-669  Good: 670-739  Very good: 740-799  Exceptional: 800 or above  VantageScore  Very poor: 300-499  Poor: 500-600  Fair: 601-660  Good: 661-780  Excellent: 781-850  VantageScore was developed by the three national credit reporting agencies. While FICO has created different scoring models for each credit bureau. The average FICO score in the US rose to 711 in 2020, according to Experian data. This is an eight-point increase from 2019 and the most significant spike since 2016. Most read in Money SHOW ME THE MONEY New $3,600 stimulus payments will be sent out starting next month CASHING IN More than 2.3m new stimulus checks worth $1,400 sent to struggling Americans CHECK AGAIN Stimulus update: How to qualify for an extra $8,000 payment STIMULUS SCARE You could be threatened with JAIL for not spending stimulus check on rent SHUTTING DOORS Walmart, Target and Best Buy all keeping stores closed on Thanksgiving 2021 CHECK PLEASE Boost for fourth stimulus check as Biden happy to hear ideas for more cash  We explain how to build your credit score. In 2020, a new credit scoring system was introduced - and it can stop you from getting accepted for cards and loans. A few months ago, a super saver revealed how she bought her first home aged 23 on a low income and with an average credit score.