The credit score is all about a person's financial level. The report has lot to do in bearing out the eligibility of the person applying for a loan, or other credit, on the basis of whether the reimbursement of his previous loan has adequately been carried out or not. This report is largely used by banks and financial institutions in order to judge a person whom they are going to lend money. The report acts as a mirror which displays a reflection of the previous credit history of an individual.
The annual credit score is determined on the basis of the FICO (Fair Isaac Corporation) score which is calculated using mathematical and statistical techniques. With the exception of this, there are also other editions of finding out credit scores. A FICO score is anchored in a variety of factors including: the order of previous payment, duration of credit history, different types of credits used and the present credits attained. Often peoples' credit status is judged comparing the FICO scores that range from 300-850 and if a person is having a score below 600 is considered as "bad", and a score more than 720 is considered as "good".
So, knowing your credit score is important. But you must be thinking where to get your annual score. Well, I must say then, it has now become very easy with the online process. There are many websites that are offering free credit score. Moreover, you can also procure copies of your reports from the three primary credit bureaus: Equifax, Experian and TransUnion. After acquiring your annual score, you can get the idea about how to organize your credit.