Your credit score is one of the most important numbers of your life. It matters as much as your phone number, your bank account balance or social security number.

Where to get your credit score?

Creditors and lenders will check your credit score to decide whether to approve your application. You should also check your credit score so that you have an idea of ​​what your lenders and lenders will see when they withdraw your credit score.

You can order a credit score – which is based on your credit report – from a variety of sources. First, you can check your credit score for free through one of these services. Some credit card companies make your credit score available either on your billing statement or online on your website. Finally, you can purchase a credit score from any major credit bureau.

When you order your credit score, all you have in front of you is a number. If you’ve never ordered a credit score before, or if it’s been a while since you last checked your credit score, you may not understand what you’re looking at. You need to know how to read a credit score to understand what your specific credit score means. Many companies that sell your credit score will also include a meter to help you read your credit score.

This indicator will help you understand whether you have good or bad credit and the factors that affect your credit score.

What does your credit score mean?

Loans are a three-digit number, often ranging from 300 to 850, with 300 being the lowest credit score you can get, and 850 being the highest possible credit score.

The higher the credit score on the scale, the better the credit. Some credit scoring models may use a slightly different range, but higher scores will always be better than lower scores. Generally, credit rating results fall within the following range:

• Above 750: Great credit
• 700-750: Very good credit
• 650-700: Good credit
• 600-650: Bad
• Below 600: very bad

High credit scores mean that you have usually done a good job in the past

You have successfully managed your credit accounts, maintained your balance at a manageable level, made your payments on time, and avoided major lending errors. With a high credit score, you are more likely to have credit and credit card approval and the most favorable terms.

On the other hand, low credit scores indicate that you have had problems managing your credit in the past. You may have noticed large credit card balances, borrowed more than you could pay, missed a few payments, or may have had a closing or a refund. A low credit score makes it difficult to approve credit cards and loans. Once approved, you may have a higher interest rate.