3 min

Your credit score, explained

What raises it, what lowers it, and how to start with no history.

Your credit score is a number banks, landlords and even some employers use to see if you pay on time. FICO scores run from 300 to 850.

Paying on time matters most. A payment 30 or more days late can lower it for years.
How much of your limit you use: try to stay under 30% (lower is better).
How old your history is, how many new applications you make, and the kinds of credit you have also count.

You can see your credit reports free at AnnualCreditReport.com, the official site. Check them for mistakes.

With no history, a secured card (you put down a deposit) or an account that reports your payments can help you start. Some banks accept an ITIN.