My Credit Score – Episode #107

February 3, 2009 by  
Filed under Episodes

My Credit Score

If you arrived on this page, you probably are asking this question:

“What’s my credit score?”

The very statement “My Credit Score” is misleading as each one of us in the US has 3 credit scores, one for each of the three bureaus. Plus, each bureau uses a different scoring system for each application. There are auto industry credit scores. There are bank card credit scores. There are insurance scores.

In keeping it simple, you want to look for the scores that most lenders use – FICO credit scores. You want to ask ” Can I get my credit scores for Equifax, Experian and Trans Union. You have to be cautious though, as a visit to each one of their websites will show you products that may not have FICO credit scores and instead provide a non-FICO credit score. Of course, it won’t be marketed as a non-FICO credit score, but rather simply listed as a credit score. That’s why we recommend going to and getting all 3 FICO scores to start.

What’s Inside My Credit Score?

My credit score, your credit score and anyone’s credit score in the US will be made up of 5 credit score factors.

  • Payment History – 35% of my credit score is determined from how I’ve paid on time
  • Amounts Owed – 30% of my credit score figures in how much I owe
  • Length of History – 15% is the length of time I’ve had accounts opened. Longer histories indicate less risk
  • Mixture of Credit – 10% is whether I have just credit cards, or credit cards and installment loans. Better scores have a full mix
  • Credit inquiries – 10% is how often my credit score is impacted by my opening new credit lines or even applying for new credit.

How Should I Track My Credit Score?

Once you have seen all 3 FICO scores, it’s a good idea to start tracking your FICO credit score. myFICO Score Watch monitors your FICO score by delivering email alerts and cell phone text message alerts each time your FICO score changes.

Can I Get My Credit Score Free?

Your credit score is not really available for free. You can get a free score if you sign up for a free trial product like or, but so few of us cancel on time, that it makes using these services expensive.

How Do I Know If My Credit Score is Good?

Check out our posts on the credit score scale and the credit score range to find out more about where your credit score would fall

Tell Us Your “My Credit Score” Story!

Send us an email at info {at}

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