CONSUMER CREDIT SCORE BASICS

IMPROVE YOUR CREDIT BY INCREASING YOUR KNOWLEDGE

Credit Guide

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Credit and Finance Advice

VantageScore®

Get the facts about this new, easy-to-understand credit score.

Score Basics

  • Check your credit report for potential inaccuracies or signs of identity theft
  • Review your credit report for any potential inaccuracies
  • See your credit score online — safely and securely
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A credit score is a number lenders use to help them decide how likely it is that they will be repaid on time if they give a person a loan or a credit card. Your personal credit score is built on your credit history. Your Experian credit score ranges from 330 to 830. A decent credit score is essential for your financial well-being because the higher it is, the less of a credit risk you are.

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Checking Your Own Credit Does Not Affect Your Credit Score

Your credit scores are determined by formulas that assess your creditworthiness. Lenders evaluate the risk of extending credit to you in part by using credit scores, which measures your credit risk — namely, how likely it is that you’ll pay them back and pay on time. Credit scores constantly adjust as the information in your credit report changes. You’ll benefit from knowing your Experian credit score and keeping track of changes and setbacks.

There is no fast way to improve a mediocre credit score if it is based on accurate information. Consumers sometimes find inaccurate information reflected in their credit report that could affect their credit score. It is easy to file a dispute with Experian or any other credit reporting agency, but you won’t be able to do this unless you have a copy of your credit report.

Learn what a credit score is and how to improve your credit scores, find out how life events affect your score, and access the industry’s first online consumer credit advice column.

VantageScore® is owned by VantageScore Solutions, LLC.

Credit Score Educational Videos

What is a credit score and how is a credit score calculated?

Maxine Sweet, Vice President of Public Education for Experian, explains how credit scores are derived from formulas that are developed by studying how millions of consumers perform in repaying their debt over time. Credit score models are used to compare the information in your credit history to evaluate your relative risk by balancing the negative and positive factors in your credit report.

How can I check my credit score?

Maxine Sweet, Vice President of Public Education for Experian, explains while most people understand what is in their credit reports, they are very confused about credit scores and think they are automtically part of a credit report. A credit score is an additional service that can be requested when getting your credit report. Along with your credit score you will know what factors influence your risk.

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