Credit rating is among the most significant figures that affect every individual’s financial status. It mainly defines whether one can be eligible for credit cards, loans, mortgages, and other forms of credit. It also determines the interest rates and terms that will be offered to you. Therefore, a credit score is another factor that one needs to check and keep healthy. But how can the average consumer obtain his or her actual honest-to-goodness real-time credit score? Here are some options.
Check Your Credit Report
Review your credit report indeed if the numbers on it may not indicate your factual credit score. According to civil laws, every one of the three primary divisions — Experian, TransUnion, and Equifax — allows a free report annually. Get your reports at annualcreditreport. com. This one platform enables you to order your reports from all three divisions together or from each agency at different times throughout the time, thus allowing you to nearly cover your train.
Always important is knowing if crimes or dishonest actions are dragging down your credit records. Should there be any distinction, prove yourself by presenting applicable attestation to the credit divisions. Correcting mistakes may ameliorate your score.
Get Your Credit Score at No Cost
Ever since the free credit report letters became available, many credit card companies and personal finance websites have started giving out free credit scores as well. For instance, the Discover Credit Scorecard and Credit Karma offer credit score information derived from recent credit history data in the form of a VantageScore. This will give you some idea of what your score may be but it is not your full FICO score which is the score most lenders look at.
Buy Your FICO Scores
To get your actual credit scores, you will probably have to pay for them even if you use any credit score website. However, it is now easier to buy your scores from the source, the Fair Isaac Corporation (FICO) in several methods.
My FICO scores are the scores created by the three major credit bureaus: Equifax, Experian, and TransUnion, and calculated based on FICO scores. You will need to make a subscription which will grant you one month of free full access to your credit reports and FICO scores. They also have an option of buying a one-time access to the generated report and score. This gives you your actual, current scores which are FICO-licensed.
Most credit card companies also include free FICO score reporting to those with a card from the respective company for a fee of a few dollars per month. For instance, Chase Credit Journey offers free weekly checking of your TransUnion FICO credit score. TransUnion is the credit bureau utilized by Capital One CreditWise for providing your credit score for free. Other issuers such as Citi, Discover, and Wells Fargo offer at least one of your actual FICO scores for a fee.
Take advantage of Free Trials
It is possible to get your latest FICO scores for free if you sign up for a few trials that are provided for a limited period. For example, Experian provides a 7-day free trial of a membership that provides access to your newest FICO scores from all three credit bureaus. However, if you don’t wish to subscribe to the monthly plans, kindly ensure to unsubscribe before the trial period ends.
Use Score Estimator Tools
Most financial institutions provide a free online service that can approximate your FICO credit score range based on the information that they have in your credit report. Some of them include Bank of America’s Better Money Habits, Capital One CreditWise, and Discover Score Estimator. These tools can estimate where your actual FICO scores probably stand right now, based on your personal credit history with that particular lender.
Consider Credit Monitoring
You can also get your real FICO scores by signing up for a monthly credit monitoring service. Daily credit reports and scores are offered in IdentityForce, PrivacyGuard, and IdentityIQ. Evaluate the options with different services and features to determine if the monthly membership fee is reasonable for you. This is usually the case of the first month being free, perhaps to enable you to experiment with the service.
Ask Your Current Lenders
Most auto lenders, mortgage lenders, and credit card companies offer access to your latest credit scores for free or for a small fee. Call their customer service center and ask if they can tell you the current score that they have on file. In most cases, they are already an existing loan customer and may have genuine knowledge of your new FICO score range.
When it comes to knowing your credit score, try to make it a habit to check it to avoid letting your score drop further and affecting your credit status. It is a long process to have healthy credit, but that is worth it, especially to achieve better loan terms that will cost less in the long run.
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