A credit score is a numeric summary of your credit history, ranging from 300 to 850, and it gives lenders an idea of whether or not you're a good credit risk.If your score is 750 or above you've got it made. But try to get a loan with score below 620 and the banks and other money lenders will be tighter than last years pants.And even if you do get a loan you will pay more for it than those with a higher FICO score. Check out www.myfico.com

Here are the things that are important.First payment history (35%) Then your level of debt (30%) and next the attempts at getting credit (10%).The key to a good credit score is keeping a balance between these elements.

The credit killers are Late payments and keep debt low if you have credit cards maxed out this demonstrates your in ability to manage your debt, keep the balance as low as you possibly can.just 10% of your credit limit is preferred any amount below 50% will be of help.

A free report is available at www.annualcreditreport.com Report errors immediately