Credit Score Analysis

While every credit union, bank and financial institution's lending guidelines aren't the same, the following information provides a good baseline for you to evaluate your score.

Remember, your credit might not just affect your ability to get a loan. Your credit score can also affect the rate you pay for car insurance. People with low credit scores are statistically more likely to make accident claims, and as a result, many insurance companies take this into account when they set your premiums.

Poor credit may even hamper your job search. While a company interviewing you is not permitted to access your score, they are allowed to request (with your written consent) a modified version of your credit report to see whether you have a history of meeting your financial responsibilities.

Potential landlords may also access your credit report before you sign a lease. It can even affect your ability to get a cellphone or even cable television.

So, what does your credit mean?