Types of Credit Used – 10% of Your FICO Score

Ideally, you want to have a variety of types of credit on your credit report.  A good mix of credit will raise your score and should include both revolving credit and installment credit. 

However, it is important to have a good balance between the different types of credit and to not let one type dominate the scene.

 How To Find Out Your Credit Score

Now that you know how the FICO credit score is calculated (and you know that this is the one credit score that you really should understand and pay attention to), you’re still scratching your head and wondering:  “How do I find out what MY score is?” 

Well, wonder no more, because we are about to show you a step by step process for finding out your credit score. 
Note that although you are entitled to a free credit report every year through www.annualcreditreport.com, you will have to pay a fee in order to view your credit score.

There are many benefits to obtaining your credit report through the MyFico website.

• Obtain your report instantly – no waiting for a paper copy to arrive weeks later in the mail
• Know that your information is safe and secure – their website is protected from hackers and your information will be safe
• Be granted access to a wide selection of tools which will help you understand your credit better