How is a Free Credit Score Used?

Your free credit score determines much of your financial life, whether you realize it or not. The scores are not only used to determine whether you receive credit, but sometimes as a personal assessment of your character. Credit scores and reports are often pulled when you are being evaluated for a job or an apartment lease. It may not be fair, but it's reality.

Your credit score is used for many things including mortgages, home equity loans, auto loans, store charge cards, major credit cards and insurance quotes. If you have a good score, you can negotiate with lenders for better terms and interest rates.