Your credit score is a record of the credit that you've used and how well you used it.
The number ranges from 300 to 850.
It can take up to six months for your credit score to show up after you've started some type of credit-based transaction.
The most common ways to start your credit life is with credit cards and student loans.
You improve your credit score by:
- Paying your bills on time
- Not using all of your credit; use only 20% of your total available credit
- Keep your credit for a long time
- Get away from high interest credit cards as soon as you can
- Don't close old credit cards
- Keep your credit applications under control; every ping on your credit hurts
- Monitor your credit report for errors
- Buying a home is one of the best things you can do for your credit long-term
If you run into trouble, you should go to www.credit.org. This is Consumer Credit Counseling Service. They will do a free consultation and set you up with a budget and payment plan. Do not go anywhere else. Most similar services are for-profit and are not as respected or qualified.