Your credit score is a numerical representation of the information that's in your credit report. Think of it as a GPA for your credit. It's a good idea to know your credit score, especially if you plan to apply for credit cards or loans. You can use a credit score estimator like the one found at myFICO.com to estimate your credit score.
How To Use The FICO Score Estimator
The FICO score estimator found at myFICO.com asks questions based on information in your credit report - the number of credit cards you have, the age of your oldest credit account, the number of applications you've recently made for credit, and the number of delinquent accounts you have.
Based on how you answer the questions, the estimator will give you a range in which your FICO score might fall, like 540-570 or 700-750.
Since the score estimator is powered by FICO, the questions asked fit into the credit scoring categories - payment history, debt level, age of credit, inquiries, and mix of credit. Your answers to these questions are likely scored the same way as if the information came directly from your credit report.
The tool will let you answer questions inconsistently, so you have to make sure you answer as accurately as possible. For example, I answered that I had two credit cards in one questions and that I'd never had another credit card in another question and still received an estimate.
Using the score estimator is easier if you have recent copy of your credit report. Federal law allows to get one free credit report each year from each of the three credit bureaus.