Howstuffworks Videos "Understanding Your Credit Score"

Arm yourself with a detailed understanding of how business and money work. Our money videos can help you make better decisions when it comes to spending your money.

REFERENCE LINKS

You need the Flash Player version 8.0.0.0 or higher and a JavaScript enabled browser to view this site

Understanding Your Credit Score: Walter Burch, Editor-in-Chief of CreditLearningCenter.com reports on how credit scores work. Your credit report and credit score are the financial picture you present to lenders. Based on the information contained in your credit report, you are assigned a credit score. Credit scores range between 300 and 900, with the average score in the U.S. at 678. Most lenders offer lower interest rates to applicants who have scores above average. It's important to understand that credit scores are far from static. They constantly fluctuate as new information appears on your credit report, or old data is removed. Consumers can monitor credit reports and credit scores on a regular basis, and take steps to improve your credit score. It all starts with understanding the different parts of your credit report and how each of them are "weighted" to determine your credit score. For more information on checking and understanding credit scores, you may visit www.creditlearningcenter.com.; How Credit Scores Work