Your credit score
Your credit score is a number lenders use to decide whether to lend to you, and how much to charge.
Your Credit scoreA three-digit number that shows lenders how likely you are to pay back money you borrow.More in the glossary comes from your Credit reportA record of your borrowing and bill-paying history, kept by companies called credit bureaus.More in the glossary, a record of how you’ve paid back money you borrowed. A higher score can get you lower APRs, which saves you money.
What helps:
- Pay on time, every time. This matters most.
- Use only a small part of your credit card limits. This is called Credit utilizationHow much of your credit card limits you're using right now, shown as a percent.More in the glossary.
- Check your credit report for mistakes. It’s free at AnnualCreditReport.com, and checking your own report doesn’t hurt your score.