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Check Your Credit Score

Check Your Credit Score

The Wise Spend Wednesday tip of the week is to keep your spending in check by checking your credit score! CreditSoup.com offers a neat little tool that will check your score for FREE! No hard pulls that will affect your credit, just enough to give you access to see what's on there. CreditSoup utilizes the TransUnion VantageScore® 3.0, which is the only model to be developed jointly by all three national Credit Reporting Companies (CRCs). You get a credit-risk solution that’s more predictive, more consistent and more stable than older models.

How Is A Credit Score Ranked?

The score values generated by the TransUnion VantageScore® range between 300 and 850. A low score close to 300 means that you have very bad credit, while a high score closer to 850 means that you have very good credit. Your personal score is based off of payment history, credit utilization, total balances across all cards, length of credit history, age of accounts, recent spending behavior and total credit across all cards. The scores are broken down below.

    Excellent Credit = 750-850

    Good Credit = 700-749

    Fair Credit = 650-699

    Bad Credit = 550-649

How Often Does A Credit Score Change?

Your score can change any time new details show up on your credit report. It will change any time you open a new credit card account, take out a loan or pay a credit card bill. If you use your credit cards regularly, your score will change once a month.

How Important is Payment History to A Credit Score?

Payment history has a large impact on your score. One late payment on your credit cards can lower your score up to 110 points and can linger on your credit report for a long time. By paying your bills on time and establishing a good payment history, you can have a positive impact on your score.

CreditSoup.com offers more information on your score here. Please follow us for more weekly tips!

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Editorial Disclaimer: Information in these articles is brought to you by CreditSoup. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles. The information is accurate to the best of our knowledge when posted; however, all credit card information is presented without warranty. Please check the issuer’s website for the most current information.

Advertiser Disclosure

CreditSoup is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which CreditSoup receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditSoup does not include all companies or all offers available in the marketplace. CreditSoup may use other proprietary factors to impact offer listings on the website such as consumer selection or the likelihood of the applicant’s credit approval.

Editor’s Rating

Our editors review each credit card and provide our ratings based on the features the credit card offers consumers including the fees, interest rates, benefits, rewards, and how it compares to other credit cards in its category. Card ratings may vary by category as the same card may receive a different rating based on that category.

CreditSoup.com may be compensated by companies mentioned on our site when a consumer’s application is accepted or approved by the company.