Your credit score is a rating based on your financial history that tell lenders if you're a good applicant for credit. Generally, this score ranges from 300 (bad) - 850 (good) and are published by the Fair Isaacs Corporations (FICO). Credit bureaus that have their own credit scores include Equifax, Experian, and TransUnion.

A credit score is a weighted measurement, determined by the following:

  • Payment history (most important)
  • Amounts owed
  • Length of history
  • Types of credit in use
  • Account inquiries (least important)

Lenders use these scores to see how much of a risk you are. They can either deny you credit, or impose higher rates.

You are allowed to access a free copy of your credit score once a year by visiting or by calling 1-877-322-8228.  You are also allowed to access your score sixty days after an extenuating circumstance, like the following:

  • Denied credit
  • On welfare or unemployment
  • An error is reported on you credit history

It's always a good idea to stay up to date on your credit score. By following basic steps and staying informed about your finances, you can know what to expect. If this still is confusing to you, don't hesitate to come in and see our finance experts at Shults Resale Center who can help work with you to determine what the best car or truck for your budget is. Just give us a call or stop by our Dunkirk location to get started.