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What is a credit score?<\/strong><\/p>\n A credit score is a three-digit number that calculates the risk a lender takes when you borrow money.\u00a0 This score is based on your credit report, and is generated by a mathematical algorithm.\u00a0 The Fair Isaac Corporation (FICO) credit score is used by 90% of lenders (source:\u00a0 myFICO.com<\/a>).<\/p>\n Why is your credit score important?<\/strong><\/p>\n Your credit score is an important piece of your personal finances.\u00a0 It helps lenders accurately predict your ability to repay a debt on time.\u00a0 FICO scores range from 300 to 850, and a higher number indicates a lower risk to lenders.<\/p>\n If your credit score is low\/poor, it may be difficult to find a financial institution or credit card company to lend you money, and if they do, most likely the interest rate will be unfavorable.\u00a0 An increasing amount of landlords and potential employers are starting to check credit scores before leasing or hiring, and insurance companies may check credit scores when determining your premium costs.<\/p>\n How can I access my credit report and credit score?<\/strong><\/p>\n As a consumer, you have access to a free annual credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) using annualcreditreport.com<\/a>.\u00a0 Unfortunately, your credit score is not included on your credit report.\u00a0 To obtain your credit score number, you would need to purchase it from a score provider or one of the major credit bureaus.<\/p>\n For additional information on credit and credit management, students should visit the UWW Financial Literacy Center’s website<\/a>\u00a0or\u00a0schedule a financial coaching session<\/a>\u00a0today!<\/p>\n","protected":false},"excerpt":{"rendered":" What is a credit score? A credit score is a three-digit number that calculates the risk a lender takes when you borrow money.\u00a0 This score is based on your credit report, and is generated by a mathematical algorithm.\u00a0 The Fair Isaac Corporation (FICO) credit score is used by 90% of lenders (source:\u00a0 myFICO.com). Why is … <\/p>\n