How do you check credit score? Does checking it lower score? Does it cost?

The three major credit-reporting agencies -- Equifax, Experian and TransUnion -- use software developed by Fair Isaac Corp. to rate your risk for assuming debt based on your credit history. The result is commonly known as a FICO score.

The score is based on five factors, including payment history, the amounts you owe and the types of credit you%26#039;ve obtained. Personal information like income, occupation, age and marital status are not considered.

The FICO score can range from 300 to 850, although very few reach that pinnacle. Each credit bureau may assign you a different score, based on the information it receives from creditors.

You generally have to pay to get your credit score. You are legally entitled to one free credit report each year from each of the three credit reporting agencies. (See %26quot;How to get a free credit report.%26quot;)

To watch for errors and identity theft, stagger your requests and get a report from a different bureau every four months.

Go to AnnualCreditreport.com to order a free report. Make sure you access the right Web site. Impostor Web sites abound.

Want to improve your score and keep it high? Think of credit as a privilege to be used sparingly.

Don%26#039;t apply for lots of credit cards. A credit inquiry can deduct five points from your credit score. However, multiple checks made when you%26#039;re shopping for a mortgage will count as only one.

Asking for your personal report won%26#039;t hurt your score. Neither will requests made by credit card companies that offer preapproved cards, or requests by prospective employers.

Avoid applying for credit cards from companies that don%26#039;t set a spending limit or won%26#039;t report your limit to the credit bureaus. (See %26quot;Weird stuff that hurts your credit.%26quot;)

Don%26#039;t cancel multiple credit cards. That can suddenly lower your available credit and can hurt your credit score. Keep old accounts open to ensure a long credit history.

Limit the percentage of available credit you use to no more than 30%, even if you pay off your balance each month. Your credit report will show the amount you owed, even if you subsequently paid in full, and excessive spending will ding your score.

If you don%26#039;t have a credit history, start one by obtaining a secured credit card and managing it responsibly.

How do you check credit score? Does checking it lower score? Does it cost?

You can check it for free once annually by visiting the websites of the three major credit bureaus:

www.experian.com

www.transunion.com

www.equifax.com

...Or, you can use a credit monitoring service like www.freecreditreport.com to look at your credit score. These services cost money, but usually offer a free 30 month trial to try their services. They also can notify you by e-mail anytime things in your credit report change such as an inquiry or an account being marked delinquent.

Also, %26quot;soft%26quot; inquiries (where you look at your credit score yourself) do not show up on your credit report, and thus don%26#039;t adversely effect your credit score.

How do you check credit score? Does checking it lower score? Does it cost?

get all three mailed to u and or u check it on line at freecreditreport.com and checking it yourself does not hurt u..