Proper Credit, Part II: Understanding the Score

Even if you've spent hours scrutinizing every item on your credit report, you still may not know if you've got a good credit record or a bad one.

A recent column explained how to retrieve your credit report from one of the three big credit-reporting agencies -- Equifax, Experian and Trans Union. You should check your credit report for inaccuracies that could seriously damage your chances of buying a home or car, renting an apartment or even getting a job.

But a credit check won't get you any closer to understanding your credit score. This score may be unfamiliar to everyday people, but it looms large for the lenders that are deciding whether to let you buy that house or other item. ...