TransUnion is an international credit-scoring agency which helps lenders make decisions on your credit application. Credit comes in many shapes and sizes—from car loans to credit cards, personal loans to mortgages. Every time you apply for credit from a lender, they check your credit score with a company like TransUnion.

Different lenders use different methods of credit scoring—which makes your credit score a fluid and changing number. From one week to the next, your credit score can change either positively or negatively. Many things affect your credit score, including how and when you pay your bills, your outstanding debt balances and how much credit you have.

Too much credit is not a good thing—a high balance of debt or high limits on too many credit cards can affect your credit score negatively. By paying your bills on time and only applying for credit as you need it, your credit score is impacted positively.

Your credit score should remain as guarded a possession as your social security number and your credit card numbers themselves. Your credit score can, and will, influence many aspects of your life and can make a credible difference in your quality of life. If you have a poor credit score with TransUnion and other credit scoring agencies, you may not be able to purchase a house or a car.

In today's society, it is nearly impossible to get by without a credit card. Many companies require you to give them your social security number and a credit card number as security and identification as to who you are. Lenders rely heavily on your credit score to either advance or deny you credit with them.

It is important to keep an eye on your credit score—this way you can know whether you are positively or negatively affecting your chances at credit.

Credit scores are affected by the severity and number of late payments, the age, type and number of credit accounts you have, your total debt and recent inquiries for your credit score. However, credit scores are not affected by your personal data, such as race, age or marital status.