How to pump up your credit score

PICPA display table
Are you looking for a way to lower the interest you pay on a mortgage, car loan, credit card account, or other debt? If so, there’s one easy answer: raise your credit score. The Pennsylvania Institute of Certified Public Accountants explains why your credit score is important and affects your financial life.
Facts about FICO
When people talk about credit scores, they are often referring to what are called “FICO scores.” These scores rate your creditworthiness based on a number of factors, including your bill payment history, how much you owe, the length or your credit history, and the kinds of credit you use. Scores range from 300 to 850, and the higher the score the better.
Credit reports are maintained by three major credit bureaus: Equifax, Experian and TransUnion. Your FICO score is calculated by an equation that evaluates many types of information from your credit reports at those agencies. You are eligible to request a free credit report from each agency once a year (go to for more information).


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