How to Check Your Credit and See Your Credit Score

When you hear people talk about “credit,” they’re referring to your ability to borrow money and pay it back on time. Your credit score is a number that shows how trustworthy you are when it comes to borrowing. It’s super important because it affects your ability to get loans, credit cards, and sometimes even jobs or housing.

‍

Here’s a simple guide to understanding credit and how to check your credit score.

What is a Credit Score?

A credit score is a three-digit number, usually between 300 and 850, that shows how reliable you are at paying back borrowed money. The higher the number, the better. A good credit score makes it easier to get loans, rent an apartment, or even lower your interest rates on credit cards.

‍

Why Does Credit Matter?

Credit is important for big purchases and life events, like buying a car or a house, and sometimes even for renting an apartment or getting a phone plan. Good credit shows that you are responsible with your money.

‍

How is Your Credit Score Calculated?

Your credit score is based on five main things:

1. Payment History – Do you pay your bills on time?

2. Credit Utilization – How much of your available credit are you using? It’s better to use less than 30%.

3. Credit History Length – How long have you been using credit?

4. Types of Credit – Do you have a mix of loans and credit cards?

5. New Credit – How many new accounts or credit inquiries have you made recently?

‍

How to Check Your Credit Score

Here’s the good news: you can check your credit score for free! There are several ways to do it:

1. Credit Card Apps or Banks – Some credit card companies and banks offer free credit score checks through their apps or websites. If you (or your parents) have an account, this can be an easy way to check your score.

2. Credit Reporting Websites – Websites like Credit Karma and Experian offer free credit score checks. You can even download apps like Credit Karma that allow you to check your score anytime. These apps make it super easy to track your credit score over time, and they don’t hurt your score when you check it. Just sign up and you’re good to go.

3. Annual Credit Report – In the U.S., you’re allowed to request a free credit report from each of the three major credit reporting agencies (Equifax, Experian, and TransUnion) once a year through AnnualCreditReport.com. This report doesn’t always include your credit score, but it shows all the details that make up your credit history.

‍

What to Do if You Don’t Have a Credit Score Yet

If you’re just starting out and don’t have a credit score yet, don’t worry! Many people your age don’t. You can start building credit by:

• Getting a student credit card (with parental approval) and using it responsibly.

• Becoming an authorized user on a parent’s credit card account. This means your activity on the card is added to your credit history.

‍

Tips for Building Good Credit

• Pay on time: The most important thing is to always pay your bills on time, whether it’s for a phone plan, a subscription, or a credit card.

• Use credit responsibly: If you get a credit card, don’t max it out. Try to use less than 30% of your limit.

• Start early: The longer you have good credit habits, the better your score will be. Starting now sets you up for success later.

‍

Your credit score is like a report card for your financial responsibility. The better your score, the more options you’ll have for loans, apartments, and even jobs. Checking your credit score regularly and understanding what affects it can help you make smart financial choices.

‍

Want to build your credit? Here's a few cards to get you started.