As a numerical value, your credit score is pretty simple to understand. Most scores fall between 600 and 750, and a score of 700 or above is generally considered good. You know if your score is below 670, it may be more challenging to be approved for new lines of credit, or you may see higher interest rates.
But what about your credit report? Your credit report has a lot of bearing on your overall financial health, so it’s important to monitor it regularly to make sure all of the information is accurate and up to date. If you haven’t checked your report recently, learn how to request one for free.
Your report includes much more detailed information about your history than your credit score, but it can be overwhelming to understand. When you get a copy of your credit report, you’ll see identifying information, all of your credit card accounts and loans, and credit inquiries. It also includes any negative instances such as accounts in collection, judgments or vehicle repossessions.
Read this article from consumerreports.org for more information on what to look for on your credit report and what you should do if you find any inaccuracies.