Build and Maintain Your Credit Score
May 1, 2026
Maintaining a good credit score is a crucial piece to consider when looking to borrow money, as your score is used by creditors to determine creditworthiness. A credit score is a predictor of how likely you are to pay back a loan on time. The information used to establish this number is taken from your credit report. However, you do not have just one credit score. Credit reporting companies such as Equifax, Experian, and TransUnion do not use the exact same data to determine credit scores. Some of the factors used to determine a credit score include:
- Bill-paying history.
- Current unpaid debt.
- The number and type of loans you have.
- The length of time loan accounts have been open.
- The amount of available credit used.
- New applications for credit.
- If debt has been sent to collection, and if you have had a foreclosure or bankruptcy, and how long ago it occurred.
Find Your Credit Score
Another common inquiry about credit scores is where they can be found. Four of the most common sources include:
- Your credit card or loan statement.
- A non-profit counselor.
- A credit score service.
- A credit reporting company.
It should be noted that not every credit card statement or loan statement provides a credit score. If you choose to use a credit score service or buy a score from a credit reporting company, make sure you are aware of the fees that may be associated with attaining it through those means.
Credit Report vs. Credit Score
Despite their similar names, credit reports and credit scores are not the same. Credit reports contain information about credit activity, loan paying history, and the status of credit accounts. Credit scores are then calculated based on that information. You should check your credit report for discrepancies, as mistakes can potentially have a negative effect on your ability to use credit.
View Your Credit Report
You are entitled to a free credit report every 12 months from Equifax, Experian, and TransUnion. Although they only provide one free report each year, you can check your report as often as you would like without it hurting your credit score. The only time your credit score is affected by checking your report is when it involves an inquiry about new credit.
By regularly reviewing your credit report, correcting any inaccuracies, and managing credit responsibly, you can help protect your credit standing over time.