Let's start with why you want to know. Well, every American is entitled by law to know their credit history and to be able to download it or have it sent to them on demand from each of the three agencies--TransUnion, Equifax and Experian--once per year. Just like you get your bank statements mailed to you every month to aid in your bookkeepping, it's a good idea to touch base with at least one of these agencies to get a copy of your personal credit information compiled nicely and neatly for you. Going to Annual Credit Report gives you a completely free copy of this report. This site is backed by the United States Government, making it the only one with such a distinction, and it is also the only one to provide your reports to you completely free. You can get your credit score through this site as well, but all three agencies do charge a small fee to acquire it (under $10).

Next, know that if you don't go around using a credit card very often or you don't need to get a loan anytime soon, the likelihood of you having any credit issues are slim to none. That eliminates some of the worriers right there; take a deep breath. But, for the rest of us that use credit on a regular basis, or even daily, it is important to know where you stand. If you have a habit of making your loan or credit card payments late, your score is sure to go down, thus making it harder to receive more credit in the future. In fact, if you are horrible at your payments, you may not even qualify to rent a car or hold a hotel room on your credit card (let alone pay with it!). The bottom line here is that if you aren't going to actively pursue more credit, you need only worry about taking care of the credit you already have (i.e. pay off the balance as soon as possible).

Okay, so you acquired your credit history and your credit score...what now? You'll notice that the report is extremely comprehensive, yet easy to understand. Start by going over it with a fine-tooth comb for errors that may affect your credit worthiness. If you notice an error, immediately contact the institution in question and talk to an agent to discuss it. Once done here, look at your credit score (if you paid the small fee). The score is a snapshot of where to stand at the moment. The FICO score, as it's called, gives banks and other lenders an easy way of telling how much credit you currently have and how good you are at paying down your debts. FICO scores in the 700 or better range are seen as good-to-excellent by lenders, while scores below 600 are seen as poor, turning lenders off. If your score was given to you as a VantageScore instead of a FICO score, then you have grades assigned to you. A score of 900 or better is an A, 800 or better is a B, and so on. Those below 700 are seen as major risks.

To sum it up, worry doesn't help you, regardless of your situation. Most people don't need to worry about their credit unless they need to use a lot of credit very soon. Getting the right information is vital, so get it right from one or more of the three agencies through the Annual Credit Report website.