Why Your Credit Score Matters

Here is the first chapter, courtesy of FT Press, for the book, Your Credit Score: Your Money and What's at Stake. I'm sure if you have or are working at a reference desk, you have gotten questions about credit scores: what they are and how to get them, and this sample chapter gives you a brief history and explains how to get your score.

You might also want to get your own credit score, since it can affect so many aspects of your life, such as buying a car, a house and even renting an apartment, since some (many?) apartment managers check credit scores before accepting a rental application. Apparently, there are some employers that check credit history before making a job offer, but I am not sure how many libraries do it (though, as the article explains, it may be a matter of course for a government job offer, or if you need security clearance).

• In the US, Fair Isaac has the website, MyFico.
• In Canada, CBC's Marketplace has done a special called Card Tricks, about credit cards, and getting your credit score is on page 11, which also explains the factors that affect your credit history.

You should actually check for errors on your credit reports. The reports from the two agencies can be different, as I discovered when I applied for a mortgage. If you have had more than one credit card, or changed your address recently, I really recommend checking it.