It isn't hard to get your credit report and federal laws give you the right to get one from each of the major credit reporting companies each year. However, if you are unsure of what exactly you're looking for, it can all be for naught. There are a few important things to look at that can give you a general idea of just how good your credit actually is.

According to consumer financial services company Bankrate, late payments can have one of the biggest impacts on your credit score. You should check to see how many late payments you have made and how long ago they were. For instance, if you were 30 days late but it happened a long time ago, it will affect you much less.

You should also take a second to look at your debt-to-credit ratio. This is often calculated by the total of all your debts on revolving accounts to your credit lines on those accounts. Experts suggest keeping the level around 10 percent for best results.

"In an ideal world, you would want to have (those ratios) under 10 percent," financial expert Evan Hendricks told Bankrate. "But certainly you want to keep them under 40 percent. There's no magic number."

Your credit score can affect a number of things including whether or not you can buy a used car, but at New Jersey State Auto Auction, your credit history will not hurt you. Buyers are guaranteed approval regardless of their credit score, and after all, making your car payments on time is a great way to boost your score. Additionally, New Jersey Auto makes it easy to get financing thanks to its online application process.