When getting your FICO credit score, do not mistaken it for a FICA credit score because there is no such thing. Your credit score was developed by a company called Fair Isaac and Co, also known as FICO. Keep reading to find out more.

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FICA Credit Score? FICO Credit Score!
I have heard credit scores be called the FICA credit score and FICO credit score and it unnerves me when people say it by the wrong name and call it the FICA credit score. Before we continue, we must establish the fact the it is called the FICO credit score, named after the company who founded it.

Note that when you check your FICO credit score, there are a few things that can help raise that credit score. Namely, it is by having a long credit account history, not missing or late for any payments and bills, having a low credit usage, recent use of your credit card, and finally, having no collection or record on your credit profile.

I recently got my FICO credit score and was told that I got a 763 which is very good. In fact, it is above average for most consumers in the United States. Are you curious to see how your credit score stands?

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With my high credit score, if I were to apply for a credit card, mortgage, or car loan, the chances for getting denied for any of these is very unlikely when based on my credit score alone. In fact, my application for a credit card, home or auto loan, will not only get approved, but I will most likely get the best interest rates and terms. In other words, I will get the most competitive or attractive rates. On my credit cards, I should also get very high limits because I am deemed as someone with a low credit risk.

Consumers with a high credit score are likely to pose less of a risk to banks and lenders because there or no missed payments and they will not likely default on a loan. FICO credit scores are used to determine the risk level of the consumer and it is a very powerful number. In fact, only 2% of the people with a score of 759-799 will ever run into any serious credit trouble. It is very unlikely that these borroweres will have a 90 day late or missing payment, declare bankruptcy, or have any account charge-offs.

Along with your credit score, you should also take a look at your credit report. Here you will find information that all three credit bureaus collect on you. Such information includes any past due accounts, the credit history, and any accounts with negative indicators.

Curious about your FICO credit score? You should be. But don’t worry, it is free to get your credit score and it does not hurt your credit score if you check it yourself.

Click on this link now to get your free credit score.