You may have seen a commercial or two lately offering you a free credit report and free credit score. What is the big fuss about? Why the sudden interest in credit reports and credit scores?

To begin, you need to obtain copies of your credit score and credit reports. Let's begin by obtaining a copy of your credit report. You can get your free annual credit reports from the government. The government allows you to request credit reports from the three major credit reporting agencies each year.

This only gives you half the picture of your credit profile. OK, let's get your free credit score now. There's not a similar Federal program that allows you to request an absolutely free credit scores. So the only way to do this is to sign up for a free credit monitoring trial which will give you a copy of your credit score.

With your credit score in front of you you can now understand what a good credit score. Your FICO credit score has a range of 300 to 850. And just like in school the higher the score you have the better. You need a credit score between 740 and 850 to get the best insurance rates and interest rates.

This is the main benefit of having a good credit score, you will qualify for the lowest mortgage rates, you will not be denied a job based on your credit score, and you will have the best credit card offers. This is why your credit score is important.

The score comes from the info in your credit reports. You need to make sure the information in there is accurate so you will have the best possible credit score. So review your credit report every three months or so and correct any errors. This way you'll be able to save money on your insurance products and loan products like credit cards.