Whether you are considering buying a home, financing a car, or opening a credit card account, your credit score will be a factor in the interest rate that you are quoted. Every day we receive advertising and offers about how to obtain a credit report and monitor our credit. Do we understand the information that’s reported? Credit Score If you have ever applied for a loan (home, auto, student, personal) or credit (credit card, line of credit) then you have a credit history. Your credit score represents the sum of your actions. Have you made all your payments on time and in full? If so, this will be reflected in your score. However, if you submit payments after the due date or if you fail to pay a loan or line of credit, your score will be affected. There are three major credit reporting bureaus (Equifax, Experian, and TransUnion) that keep track of your credit performance. These three bureaus review your credit history and assign you a number, or score.