When you’re trying to get any kind of loan, you will run into a requirement for a credit score. If you’ve never applied for a loan, it’s possible you may have never had to check your credit score before. While that may be the case, your score is critical to any kind of loan you want to get in the future, even for a simple credit card. Fortunately, it’s easy to get a free credit score online.
Where & How To Get Your Free Credit Score Online
To get your free credit score online, you have to ask a third party. That means that you have to go to a company that can tell you for free. While the three credit bureaus provide a free credit report once per year, the report doesn’t tell you your credit score.
You can check your credit card statement online to see your credit score. Credit reporting agencies charge money for their services, but your online account for a credit card is always free. So, this is one way to get a credit score check free online. Another way is to use an online company that doesn’t charge for their services. Many bank card providers will offer this service for free, on the condition that you sign up to their site.
The best way to get your credit score is to go directly to one of the credit bureaus. Experian provides your FICO credit score for free, but your credit score comes separately from your credit report.
Your credit score is just an indicator. For a complete story on why your score is where it is, you will need a credit report.
Free Credit Score Check Online: Get Your Report
You can check your credit report free online as reported by any of the three major credit bureaus. Those bureaus are Equifax, Experian, and TransUnion. Online, you can find your credit report at Annual Credit Report once per year. The website is a joint operation run by the three credit bureaus.
Your credit score can be accessed once per year free of charge, regardless of your financial circumstances. However, there are also cases when you can get a free credit report more than once per year. If you’ve been denied credit, you are entitled to a free credit report if you request one within 60 days. If you’re unemployed, on welfare, or your most recent credit report is inaccurate, you are entitled to another free credit report.
Under any of these specific circumstances, you can get a credit report for free online.
What’s On My Credit Report?
Your credit report is the document used by potential lenders when they are assessing your creditworthiness. It includes all of the details of current and former credit accounts.
Every credit card, past and present, is accounted for on your credit report. When you take out (almost) any kind of loan, the lender will report your business with them to one of the three credit bureaus. The bureau they report to will then add your activities with that lender onto a credit report.
How Credit Scores Work
Your credit score is a simple benchmark of how consistently you cover any credit obligations you have.
If you pay your credit cards, mortgages, and any other loans you have off on time, your credit score will grow. Consistency is key to building up your credit score.
If you borrow money for any reason and fail to pay back the lender, your credit score will take a hit. Some other actions may cause your score to fall. One of the most common ways is that, although many people don’t realize it, cancelling a credit card will cause a drop in your credit score. Also, while it won’t be such a significant drop, if your credit report receives a hard pull too many times, your score will go down slightly.
Why Your Credit Score Is Important
Your credit score is the most important factor when lenders assess you. If you ever need a loan of any kind, you will learn all too fast how important your credit score is. Your credit score makes the difference between an easy loan and loan that keeps you on edge and one missed payment away from financial disaster.
Where Else Can I Get A Credit Score Check Free Online?
According to US law, you are entitled to one free credit report per year. Because it’s so fast and easy, we recommend that you simply request your credit report at Annual Credit Report or Credit Karma. With Credit Karma, all you have to do is submit your e-mail. If you don’t want a copy online, you can also call Annual Credit Report at 1-877-322-8228 toll-free. You can also call or fax any of the three credit bureaus, which could be burdensome.
Check For Inconsistencies
While we recommend you get your credit score checked online for free, we also recommend one more thing…
At least once, try ordering a copy of your credit report from each of the three credit bureaus. This might not be free, but it can save you money in a way you normally wouldn’t realize. Credit reporting isn’t foolproof and the credit bureaus make mistakes. So, if you get your credit reports from all of them and notice discrepancies, you can open a dispute and have your report corrected for free.