On your credit card statements you may have noticed that it is easier to read and things are more well defined. For one, the interest rate is shown more clearly and not in small text that is impossible to read. To try and get consumers to pay off their debt as soon as they can, government regulations has told credit card companies that they need to clearly define how long it will take to pay off the credit card if you only pay the minimum.Because of a bill passed called the credit card act, finance companies must disclose information to the consumer like this. On the other hand, credit score reporting agencies are also effected by these new government regulations.It’s important that you get a handle on your credit reports free credit score. Once you get a handle on your credit reports and credit score, you will be able to tweak it out and improve your score.About your credit score, it can be anywhere between the numerical values of 300 to 850. With the credit card act, the regulation is trying to minimize credit card debt and with this it helps increase credit scores across the board. With the credit card regulations, your credit card APR rate may be at a better rate if you have a better credit score.To get a better gauge of what your financial situation is, get your free credit reports check online. The average credit score is around 600 so if you can get something anywhere over 700 then you are in good shape.Time is on your side so if you start young and early, then it’s better for you. It’s important to check your student loan credit reports if you are still in school and getting financial help. Because nobody else will do it for you, you should make sure your credit report is up to par.