What is My Credit Score – How to Check Your Credit – Wells Fargo

Your credit report card tells likely lenders how creditworthy you ’ ve been with credit in the past. When you apply for accredit, lenders can legally request this document from one or more of the credit chest of drawers ( Experian®, Equifax® and TransUnion® ) to assess how bad it is to lend to you.

What can lenders see on your credit report?

Your credit report provides a detailed compendious of your credit history. It includes your personal information and lists details on your by and current credit accounts. It besides documents each clock you or a lender requests your credit report, arsenic well as instances where your accounts have been passed on to a collection representation. Financial issues that are separate of the public record, such as bankruptcies and foreclosures, are included, besides .

How to access your report

You can request a free imitate of your citation report from each of three major credit report agencies – Equifax®, Experian®, and TransUnion® – once each year at AnnualCreditReport.com or call toll-free 1-877-322-8228. You ’ re besides entitled to see your credit report within 60 days of being denied credit, or if you are on social welfare, unemployed people, or your report is inaccurate. It ’ s a good mind to request a citation report from each of the three credit report agencies and to review them carefully, as each one may contain inconsistent information or inaccuracies. If you spot an error, request a dispute mannequin from the agency within 30 days of receiving your report.

What does a credit score mean?

Your credit score is a numeric representation of your credit report that represents your creditworthiness. Scores can besides be referred to as credit ratings, and sometimes as a FICO® Score, created by Fair Isaac Corporation, and typically range from 300 to 850.
FICO® Scores are comprised of five components that have associated weights :

  • Payment history: 35%
  • Amounts owed: 30%
  • Length of credit history: 15%
  • How many types of credit in use: 10%
  • Account inquiries: 10% 

Lenders use your credit score to evaluate your credit risk – generally, the higher your credit score, the lower your risk may be to the lender. To learn more, view how your recognition score is calculated.
Did you know? Wells Fargo offers eligible customers free entree to their FICO® Score ― plus tools, tips, and much more. Learn how to entree your FICO score .

Responsibility is key

Above all, it ’ s important to use credit responsibly. A good credit history and credit score can be the dispute between being able to purchase a home, buy a car, or pay for college. Proactively managing your credit report is a bang-up means to stay in restraint of your finances, and ultimately achieve your goals .

Empower yourself with fiscal cognition

We ’ re committed to helping you build your fiscal success. here you ’ ll find a broad crop of helpful information, interactional tools, practical strategies, and more — all designed to help you increase your fiscal literacy and reach your fiscal goals.

My Financial Guide
Products to Consider

  • Smarter CreditTM Center
  • My Money Map
  • Wells Fargo Online®

reservoir : Fair Isaac Corporation
You must be the primary account holder of an eligible Wells Fargo consumer account with a FICO® Score available and enrolled in Wells Fargo Online®. eligible Wells Fargo consumer accounts include down payment, loanword, and citation accounts, but other consumer accounts may besides be eligible. Contact Wells Fargo for details. handiness may be affected by your mobile carrier ‘s coverage sphere. Your mobile carrier ’ second message and data rates may apply. Please eminence that the grade provided under this service is for educational purposes and may not be the score used by Wells Fargo to make credit decisions. Wells Fargo looks at many factors to determine your credit options ; consequently, a specific FICO® Score or Wells Fargo credit rate does not guarantee a specific loanword rate, approval of a loanword, or an upgrade on a credit rating menu.

FICO is a read trademark of Fair Isaac Corporation in the United States and other countries .
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