I came across Check Your Credit Score For Free post on All Financial Matters Blog today, which shared a tool that will estimate your credit score for free. The tool was good, but I found a better one called myFICO FICO Score Estimator (it’s faster and there’s no advertisement). The calculator asks you 10 questions to come up with an estimated range of your FICO credit score.
This gives you a good idea of what factors determine your credit score. Here is a visual on how your FICO score is calculated from 5 general categories.
Note: I got the graphic from myFICO’s About FICO scores page.
Based on my answers, my FICO score was estimated to be between 755-805. That’s pretty darn good based on the ranges below:
Also check out this Bargaineering article on how to get a free FICO credit score.
Also, it is a good idea to review your credit report regularly. Since you can get 1 free credit report per year from each of the 3 credit agencies (Equifax, Experian, and TransUnion), you can stack your request 4 months apart and be able to review your credit report year round. Personally, I use AnnualCreditReport.com.
|700 - 750||Good|
|640 - 700||Average|
|580 - 640||Poor|