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A credit score is used to determine your credit worthiness and is basically a snapshot of your financial life story. As this score is used as an indicator of your debt paying tendancies financial institutions use it in deciding if you qualify for credit, loans, credit cards or utilities. Your score may also be used in deciding what interest rate you may be charged if credit is given and the credit limit associated with it. As well lots of potential employers and landlords may use your credit report to discover if you are responsible with money.Federal law in the United States grants each resident one complimentary copy of their credit score every 12 months.The 3 key credit bureaus; TransUnion, Experian and Equifax all have their own scoring methods which can result in you having different credit scores at all three of the bureaus. Receiving your credit score from each of the three credit bureaus becomes essential once you know they all use various scoring models.The Basic Makeup of a Credit ScoreIn determining a credit score the following components are considered:• 35% is your payment history. Late payment of debts such as your mortgage, credit cards and automobile loans may lower your score. Paying your bills on time will strengthen your score in time.• 30% is set from credit utilization. This represents the percentage of credit limit being used versus the amount still available on your credit limit. You can improve your score by paying down your debt total and lowering your utilization portion.• 15% credit history duration. Assuming you are paying your debts as agreed your score will advance as the age of your credit history increases.• 10% based on diversity of credit used. Using a variety of credit types such as installment, consumer finance and revolving can help promote your score.• 10% Multiple applications for credit. Your credit score can be negatively affected if you make numerous credit applications or inquiries in a brief period of time. Make a point of spreading out your credit inquiries over time.Credit Score RangeYour credit score (FICO score) will be somewhere between 300 and 850. About 60% of scores on average are in the 650 to 799 range. History shows the median score to be 723.Why obtain Your Score on a Regular Basis?• If you may be making consumer purchases in the near future• To help prepare when applying for a mortgage or to negotiate lowering your present interest payments.• So the next time you make a vehicle purchase you can be sure to receive the lowest possible interest rate.• since a potential employer/landlord will likely investigate your score it's imperative you know what they may find.• In order for you to make certain there are no mistakes.• To offer important information that can warn you of identity theft/fraud.Considering the reasons listed above can play a major part in the wise use of your finances getting your credit score ought to be taken seriously.With the wide spread access of the internet, getting your free credit score has become a fast and straight forward procedure that may help you determine your credit history, your credit worthiness, your credit potential and to ensure the information on your report is accurate for your benefit and security.To immediately get your credit report is as easy as filling in your name, address, social security number and date of birth and then hitting "submit".Considering the simplicity of acquiring your credit score and the fact that it's free means there is no longer any reason to not get yours today.Click here to instantly download your free credit score.