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Credit Score Estimator - Credit Score Calculator FREE App for Android and more.

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Credit Score Calculator App gives you access to all of your financial information - mortgages, bank accounts, bills, loans, credit cards and, of course, your scores. The Credit Score Estimator will give you insight into where your credit stands today and how changes you make will affect your score in the future.

Your credit score is highly important if you want to get approved for a loan or for a home mortgage. This will also determine whether or not you can get a low interest rate for your loan. Lenders generally give low interest rates for people with a good credit score. So if you need to apply for a new loan, it is best to calculate your credit score first. Based on this, you can either work on improving your credit score or you can go ahead and apply for a loan.

There are a lot of available credit score calculators online. But how does a credit score calculator really work? The score that you get is based on the data that you will provide. Generally, the score that you get is made up of the following factors:

35 percent: your payment history. This includes the number of accounts that you are paying on and any negative records from your past payments. This also takes into account the number of items that went unpaid past the due date, the length of time you have been delayed in payment, as well as the length of time since your past due payment.

30 percent: your current debt. This includes the current amount of money that you owe from different lenders, including your current balances. This also takes into account the credit lines that you are currently using, as well as the consistency of your payments for loan accounts that you pay in installment. If you have zero balance accounts, these would also be counted in this chunk of your credit score.

15 percent: the time that you have credit history. This includes the time that you have been tracking your financial activities, including the time when you opened an account and the time since the last activity. The longer your credit history is the better score you will get.

10 percent: the types of credit you use. This considers current mortgages, revolving credit, as well as loans that are paid in installment. If you have different accounts, you will most likely get a good score.

10 percent: your new credit. This takes into account any new account that you have opened, the proportion of the newly opened accounts to all your current accounts, the number of inquiries you made and any problems related to paying your newly-opened accounts.

Curious to know what your credit score might be? Our free credit score tool estimates your score in 10 easy steps. Take this quick quiz to get an appraisal.