Get a copy of your credit report
Like it or not, you’re being graded on how you use credit. The grade you receive is called your credit score. Every credit card you get, every loan you apply for, every bill you pay (or don’t pay) is applied toward your score.
Generally speaking, a credit score measures the likelihood you’ll repay what you owe, and it is based on information in your credit report. The higher your grade, the more likely you are to be approved for credit. You may also be offered better interest rates with a higher score.
You can get your score and a copy of your credit report from any of the three national credit bureaus — Equifax (1-800-685-1111 or www.equifax.com), Experian (1-866-200-6020 or www.experian.com) and TransUnion (1-800-888-4213 or www.transunion.com). Some consumer advisors recommend you check with all three bureaus, since they all may have slightly different information about you.
Each bureau charges a fee for a credit report. However, if you have been denied credit, you’re entitled to a free credit report from the bureau supplying the information that was the basis for denial.