Your credit score also known as your FICO score is based on the information contained in your credit record. Since your credit file is always changing so is your score.
Your credit record changes every time a company you have credit with reports an on-time payment — or more important, a missed payment that’s now more than 30 days late. Your score changes each time your credit card balance changes or you apply for new credit.
There are three main credit reporting agencies; Experian, TransUnion and Equifax. Another factor that could affect your score is that not all lenders report to all agencies.
To know your credit score you can pull a free credit report from all three agencies once a year. Look for missing or incorrect information. It is important to get that resolved as soon a possible. Click here for more information on obtaining a free credit report.