Your Credit
You know that a mistake on your credit history can ruin you it may mean higher interest payments, inability to obtain a loan, a credit card or to buy a house. It may even prevent you from obtaining the job you want because some employers check credit history.

Thus, it is advised that you check your credit history every 1-2 years. There are a number of ways to obtain your credit report containing your credit history.

Who keeps your credit history?
There are three major companies that are in the business of collecting and distributing credit histories on all Americans. If you're an average American, it is very likely that all three companies keep your credit history. They are competitors, which means that each company has a different version of your information. This makes it necessary to obtain reports from all three companies to make sure that none of them has erraneous information in their files. Click here for Credit Bureaus Contact Information.

What is a Credit Score?
A credit score, commonly known as FICO scores, are used by creditors to determine how good a credit risk you are. It has predictive value for telling the lender how likely you are to repay a loan or to make payments on time. The credit score is calculated using information in your credit reports. Usually each person living in the United States who has a Social Security number, whether a citizen or not, will have three versions of credit reports to their name. Equifax, Experian and TransUnion are three companies that collect your credit information and provide your credit report (also known as credit profile) to your lenders/creditors.

The credit score is based on a model derived from analysis of past credit history of thousands of people. Based on the collective "credit history" of thousands of people with financial profile similar to yours, the credit score tries to estimate your future behavior in respect to repayment of your loans, making timely payments, etc.