Lenders and banks use a credit score, calculated from information in your credit report.
They use this score to determine if you can afford more credit and to ascertain if you are a good credit risk.
The interest rates you get on loans and credit cards may be based entirely on a credit report.
There are many types of credit scores, but the main one is FICO. FICO is calculated by software written by
Fair Isaac and Company. You actually have 3 FICO credit scores. Each of the big three credit reporting agencies
have a unique picture of your credit history, which is important to know when checking your credit report.
