<http://schema.org/articleBody>
" A good credit score from a credit agency will help you qualify for lower-cost mortgages and other necessaries, such as a car or business loan. A poor score could, for instance, result in your paying higher interest rates for the above, as well as for insurance policies and a home-equity line of credit. So it makes smart financial sense to have the best score possible. Here&amp;#039;s what you need to know to make that happen.   There are three major credit agencies: Experian, Equifax and TransUnion. Each tracks your information independently, so you&amp;#039;ll want to know where you stand with all of them. Credit agencies compile information about you to create what&amp;#039;s known as a credit report. These reports contain details about where you live, whether you&amp;#039;ve ever been sued, how much you owe on your charge cards and what your payment history has been like. Thanks to an amendment to the federal Fair Credit Reporting Act, as of this September, everyone across the country can order one free copy of these reports per year from annualcreditreport.com.   Each credit agency gives you a credit score, also known as a FICO score, ranging from 375 to 900, based upon your payment patterns, debt load, the length of your credit history and other matters, such as the types of debt you owe (think good debt and bad debt). The median credit score in the United States is about 720, so you want yours to be above that number.   You won&amp;#039;t see your score in your credit report, but you can order all three credit scores, as well as some other features (such as a &amp;quot;score simulator,&amp;quot; which can help you figure out how your rating might change if you pay off a card or open up a new account), from myfico.com for $44.85.   If you don&amp;#039;t like your score, aim to raise it by documenting any inaccuracies in your reports, sending the credit agencies a written explanation for your past problems, taking steps to reduce your bad debt overload and making certain you pay your bills on time. "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.redbookmag.com/life/money-career/advice/a168/credit-score-yl/>