Credit scoring is a method of evaluating an individual’s creditworthiness by assessing their credit history and other relevant factors. It is typically expressed as a numerical value, known as a credit score, which lenders use to determine eligibility for loans and other forms of credit and set interest rates and credit limits. Checking your credit scoring regularly is crucial for maintaining good financial health and making informed decisions about your finances.
There are several ways to check your credit scoring. You can obtain a free copy of your credit history from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once per year through AnnualCreditReport.com. You can also purchase your credit score from these bureaus or from other companies that provide credit monitoring services.