To creditors, you are a walking, talking, three digit number. Creditors use that number, your FICO score, to judge your credit worthiness. A good FICO score can lead to favorable terms, but unless you pay a fee or sign up for a free trial, your score is cloaked in a shroud of secrecy. Until now.

Bankrate’s FICO Score Estimator asks ten questions about the contents of your credit report. The estimator then provides a fifty-point range that should contain the score provided by each of the three credit reporting agencies. You can use this score to negotiate better terms with creditor.

JLP from AllFinancialMatters reminds us that the estimator only works if you are honest.

One thing I found weird was earlier this week when I used it, it told me that my FICO score was 770 – 820. Today, I got a 750 – 805. I guess I must have entered something differently this time around. If you try out the estimator, it’s important to be HONEST!

A score above 700 is ideal, but only if it’s based on truthful answers. — CAREY GREENBERG-BERGER

FICO Score Estimator [Bankrate via AllFinancialMatters]
(Photo: samwilkinson)

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