ABOUT THE CREDIT REPAIR GUIDE

CREDIT SCORE, DEFINED.

Your credit score is a three-digit number which lenders use to help them decide how likely it is they'll be repaid on time if they grant you a credit card or loan. It's an important factor in your financial life. The higher your scores, the more likely you are to qualify for loans and credit cards at the most favorable terms, which will save you money.

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If your credit history is not where you want it to be, you're not alone. Improving your credit scores takes time, but the sooner you address the issues that might be dragging them down, the faster your credit scores will go up. You can increase your scores by taking several steps, like establishing a track record of paying bills on time, paying down debt and taking advantage of tools like "The Credit Repair Guide", a new product that will you to get your credit back on track.

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It's likely that you have dozens, if not hundreds, of credit scores. That's because a credit score is calculated by applying a mathematical algorithm to the information in one of your three credit reports, and there is no one uniform algorithm employed by all lenders or other financial companies to compute the scores. (Some credit scoring models are very common, like the FICO Score, which ranges from 300 to 850.)

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You don't have to get hung up on having multiple scores, though, because the factors that make your scores go up or down in different scoring models are usually similar. Barry Paperno, a consumer credit expert, says "What makes one score go up versus down is always going to be the same—it just depends on the degree."

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Most scoring models take into account your payment history on loans and credit cards, how much revolving credit you regularly use, how long you've had accounts open, the types of accounts you have and how often you apply for new credit.