Not sure how this came to be, but there are three credit agencies that are keeping tabs on your credit rating: Experian, TransUnion, and Equifax.  Although they are competitors, they form a corporate abomination called Consumer Data Industry Association, which lobbies Congress on behalf of all three.

Their existence is justified: how do lenders know whether you are a meticulous on-time-bill-paying debutante or a thrice bankrupt, child support-avoiding methhead?  So they apply the same mathematical algorithm to your financial history and come up with a number, which represents your credit worthiness.  By “your financial history” I mean “how much outstanding debt you have, the length of your credit history, what type of credit you’ve received and the frequency with which you fill out new credit applications“.

The perfect score is 850, the lowest score is 300.  South Dakota has the highest average (710), and the Great State of Texas – the lowest (655).

So want to know your credit score?  Check out this site — 3 in 1 credit report.