What Is My Credit Score Free, Question Answered

What is my credit score free? That is the same questions that thousands of other Americans are asking. You can get a free credit report from the three major credit reporting bureaus once a year, thanks to the Fair and Accurate Transactions, FACT Act, but not a free credit score. The only way to get a free credit score from the government authorized unit is when you applied for a loan, for example, and have been rejected because of your credit report or score. You then have a right to ask the lender for a copy of the report and score that they used for reference. But that seems too far for getting a free credit score.

What is my credit score free?

One more way to get a free credit score is through websites that are not government authorized. They are not What Is My Credit Score Freerisky as long as you know how to safely get your free credit score and are careful in choosing the right website. There are a few trusted and well-reputed websites that can give you a free credit score. Choose one that does not require credit card details to avail of their free trial.

There have been numerous cases where individuals singed-up for a free trial and gave their credit card information but were charged for the service a couple of months later. What happened was that, upon signing up, they unknowingly agreed to be charged regular service rates after the free trial and they did not unsubscribe when it was over. If you do give out your credit card details, be extra cautious to cancel your subscription before the trial period expires.

What’s a good score?

A good credit score is anywhere above 660. Getting a score between 660 and 719 will give you fair rates when you are applying for a loan and will show that you are responsible enough financially. The best loan rates and payment terms are offered to those with a credit score of 720 and up. Anywhere below 660 can send a red flag though. You will be considered to be of high risk and will either be given unfavorable rates and terms or rejected for a loan, insurance, job or an apartment.

Why do credit scores differ?

Have you checked your credit scores recently? Have you compared two of your credit scores from different agencies or bureaus? If you have, you will be surprised to find that they are not the same or at lease close enough. This is because of two reasons; one is that different agencies use different scoring models and two, not all information that is available to one agency is available to all the others.

The most common scoring model is the FICO, Fair Isaac Corporation and it is what the three major credit reporting bureaus use. This is important when choosing a free credit score service online. Narrow your search to those that use the FICO model so that your score will closely resemble your actual score at the three bureaus.

 

 

Where To Get Free Credit Score Government Issued

If you have already requested for your free annual credit report from the government authorized website Annual Credit Report or requested for your copy through mail or over the phone, you are wondering where to get a free credit score government authorized. Unfortunately, the FACT Act does not include a free credit score, it only entitles consumers to a free credit report. Credit scores can be purchased at $14.95 with the report at any of the major credit reporting bureaus. You can choose to get it from the official websites of Experian, Equifax or TransUnion.

Free credit score government

There are several websites that give out free credit report and score but none are acknowledged by the government. If you decide to proceed with this, make sure that you only deal with a well reputed website. There are cases of people getting charged a full year’s worth of service because they did not cancel their free subscription. What some websites do is give out a free trial for a week, sometimes a month and when the subscriber has not cancelled the subscription, they will automatically charge the person’s credit card. So ask around or research which websites deliver free credit reports and scores.

Once you have your credit score, whether you paid for it at the government authorized website or through a free service, what then? What is a good score and what is a bad score?

Good score, bad score free credit score government

If you have a score above 720, congratulate yourself. You have done an amazing job in keeping an excellent rating. This is the best possible rating one could get. It is also the rating where you can get the best interest rates and payment terms from lenders.

If you have a score of 620 or below, it is time for you to work on getting that credit score up. This score will give you the highest interest rates and the most unfavorable terms with lenders. If they even grant you that loan, in the first place.

A score in between the highest and the lowest rating will give you fair conditions with lending companies. The closer you are to 720, the lower the interest rates are and the closer you are to 620, the higher those rates will be.

What’s in a score?

If you have a low score and wish to improve it or a high credit score and wish to maintain it then you should know how scores are computed. The biggest factor in calculating a credit score is the payment history. It constitutes a big 35% of the overall score. What goes into payments history is how prompt you are in paying bills. Late payments and bankruptcies can bring this score down.

Your outstanding debt makes up 30% of your credit score. The amount that you owe in car or home loans and how much of your credit card’s credit limit you have accumulated all go into this.

15% goes into the duration of your credit and 10% each for new credit and the types of credit that you have. All this make up for your credit score.

How To Check Credit Score For Free

Credit scores show lenders, and whoever is checking your score how creditworthy you are. On your credit report, you’ll find a detailed history of your credit and the credit score is calculated using this information. Credit scores are a three digit number that ranges from mid-800, the highest rating to below 300, the lowest.

Not only are lenders the one who will assess you based on your score, job employers and potential landlords do too. If you want to know what your credit score is then read on to find out how to check credit score for free.

How to check credit score for free

There are several reputable websites that offer free credit report and score. You can sign-up for their free How To Check Credit Score For Freeservices but be sure to cancel your subscription once the free service is over. There are a lot of websites that offer free annual credit report and scores but some will automatically charge you if you have not cancelled your subscription after the free trial has lapsed, usually after a week or a month. Read the terms and conditions carefully and choose only those that others trust.

Government authorized

According to the FACT Act, Fair and Accurate Credit Transactions Act, everyone has the right to get a copy of their credit report. You may get yours at the government authorized website Annual Credit Report (www.annualcreditreport.com) once every year. When you request for your free copy, you will be getting one from Experian, TransUnion and Equifax, the three major credit reporting bureaus. This report allowed by government law does not include a credit score though. It can be purchased as an extra.

Credit-based rejection

The FACT Act also gives you the right to request for a free copy of your credit report and score when you have been rejected a loan or offer because of credit-based reasons. The lender should give you a copy of the credit report that they based their reasons on, be it TransUnion, Equifax or Experian.

Whichever method you choose to check your credit score, once you have it, do you know what it means? If you have a credit score of 720 and up, that means you have the highest rating and will be getting the loan no doubt. Not only that, you will also get the best possible repayment terms and interest rates. If you are looking into a major purchase, be sure that you have a credit score of 720 or higher.

The average rating falls between 621 and 719 although more specific ratings fall into this. This rating is the minimum required to get fair terms. Your rates and terms will not be as good as when having an excellent rating but should be fair enough. You could benefit financially by improving your credit score.

The lowest rating that you can get is a “risky” rating with a score of 620 and below. If you fall on this range, you’ll certainly want to get your credit score up to be approved for a loan. Even if you do get it, you’ll get very demanding rates and conditions that it will hardly be beneficial to you anymore.

What Is My Credit Score Free?

If you have requested your free annual credit report, you might have been surprised that your credit score was not included with it. You may have figured out by now that the annual free credit report simply does not come with the credit score and the only way to get your score is by paying for it.

What is my credit score free?

One way of getting your credit score and even credit report for free, other than your annual free report, is what is my credit score freewhen you are declined for a mortgage or loan because of your credit score. When this happens to you, you have the right to request from your creditor a copy of your credit report and score, the one that they used to decide not to grant you that loan.

But you don’t want to have to go through all that trouble to get your credit score right? After all, who wants to be declined?

One more option that you have for getting a free credit score is through a credit monitoring service. There are countless services like this online but let me inform you that none of these services are authorized by the government to give out such information. The only legit entities that can give credit report and score are the three credit reporting bureaus namely Experian, TransUnion and Equifax. Annualfreecreditreport.com is the website authorized by the government to give out your free annual credit report but then again this does not include the score. None of these legit bureaus give out free credit scores.

Should you decide to try your luck, proceed with caution. It is common for credit monitoring services to claim to give you your free credit report and score for the first month of your subscription but be warned that they will bill you the following month if you have not taken the time to cancel that subscription after the trial month.

Take note that if it claims to provide free credit report and score, it will not need your credit card information because after all, it is free and should be free.

One more thing that you should know about your credit score is that it is not the same across all bureaus and credit monitoring services. Your credit score is only as good as the information that the agency uses to compute it and their actual computation method. There are many computation methods for calculating the credit score each of the three credit report bureaus.

So, focus less on your credit score and more on your credit report. While it, too, will not be the same from all three credit bureaus, it should be the more accurate option in getting an idea on whether you have a good credit score or not. As long as what is found on your credit report is accurate and your account are in good standing, then you will most likely have a good credit score.

3 Step Free Credit Score Check Process

Your credit score is important in getting not just loans and insurance but in landing a job too. If you want to know where you stand, there are a couple of methods to find out and a process on how to do a free credit score check.  The one authorized by the government is the Annual Credit Report website where you can get a free credit report once every year. It does not include a credit score though but you can purchase it as an extra service. You may get a free credit report from each of the credit reporting bureaus.

Free Credit Score Check Method

There are websites that will give you a free credit report and score but none of these website are approved by the government to release such information. That’s why it is safest to stick to the Annual Credit Report site.

You should know that…

There are three things you should know about your credit score. The first one is that your score from last How To Obtain Credit Score Freeweek can change the following week. New information on your credit report can make a difference on your credit score. And because you are constantly involved in credit-related activities, your score will constantly change. Credit related activities include payment on credit cards and loans. So if you have made an advance payment on your loan, your credit score will change as soon as the creditor updates this information to the credit reporting bureaus. Your credit score is only calculated whenever you or someone else requests for it so it is likely that new information will be included in the calculations on your next request. Thus, causing a change in your credit score.

The second fact that you should know about credit scores is that you do not have a single, absolute score. There are a lot of credit score models that are available to creditors and different models will give you different scores. The three major credit reporting bureaus use the FICO scoring method but even with these three bureaus, you will likely have different scores. While they all use FICO, they still adapt their own methods to the scoring system. This is the reason why it is advised to not focus on your credit score. Instead, focus on your credit report to get an idea on what score you will probably have. If you’re current on all of your loans, mortgages and credit card, you will have a good credit score no matter which credit score model is used to compute it. This leads us to the third fact that you should know about credit scores.

That is, your credit score is only as good as your credit report. Because despite the fact that your credit score will be different all the time, the one used to compute the score, the information on your credit report, will always be the same. One single error on your credit report will affect your score.

So more than your credit score, focus on your credit report. Make sure that all information in it is correct and that do everything that you can to keep it up.

Where To Find Free Credit Scores Without Credit Card

Have you tried filling out free credit score forms online but end up cancelling the whole process because it asked for your credit card information? Have you had a hard time looking for an agency where you could get your free credit score without actually fearing that you might be charged on your credit card? It’s actually quite easy to find a website that will give you free credit scores without credit card.

The catch

It’s unnnecessary for you to divulge such confidential information. There are a few websites online that will free credit scores without credit cardallow you to do this so be sure to find a reputable one. The disadvantage with getting a free credit report or score from these websites, since they are not authorized by the government to do so, they will not be a FICO score. FICO score is the standard and widely used scoring system of credit reports. Chances are too, that the score that you will be getting from these websites is not accurate. They will be far from the score that will appear on your records at the three bureaus.

The authorized websites do not require a credit card. The official website of the three credit reporting bureaus Equifax, Experian and TransUnion do not. Although you won’t find a free credit report or score on these website.

Free credit scores without credit card

Where you can get your annual free credit report is at annualcreditreport.com, the authorized website of the government for releasing such information. No credit card information is required, just some identifying information such as your Social Security number, work history and personal information. Everyone is entitled to a free credit report once every year but this does not include a credit score. It can be purchased at the said website too or at any of the three bureaus. Getting denied from a loan will give you the right to a free copy of your credit report as well.

Report or score

The credit score is computed using the information found on your credit report. So if you have a good record on your credit report, you will have at least a fair credit score. So use your annual free credit report from the official website to get an idea. Unless you need to know your exact credit score, when you know how to read your credit report, it should be good enough. When you request your free credit report from Annual Credit Report, you will be receiving all three credit reports from the three bureaus. Be sure to save your report once they send it to you so you can access it anytime you wish. You might not be able to access it online after your inquiry.

More Free Credit Report and Score Options

Free credit report and score offers are available on countless websites all over the internet but there are only four websites recognized by the US government to obtain your credit reports. These websites are annualcreditreport.com and the official websites of the three credit reporting bureaus namely TransUnion, Equifax and Experian. Here are other things you should know.

How to get free credit report and score?

When visiting the above mentioned sites, you will be asked for a few verification questions and then you will free credit report and scorehave access to your credit report instantly. There is no free credit report and score service available on any of these websites. Credit scores can be purchased for roughly $10. You can get a free credit report once every twelve months from each of the credit bureaus, other than that it has to be purchased unless you have been denied credit. Then, you have the legal right to another copy.

Do I need a free credit report and score

You need to check your credit report once a year for any discrepancies and detect identity theft. You will also want to check it months before you intend to apply for a loan, mortgage or any form of credit to see where you stand. If you are looking for a job, it will also be helpful to see how accurate your credit report is.

How important is my credit report and score

A good credit report and score is essential to saving you a significant amount of money and securing opportunities such as a loan or a job. Your credit report and score is used by lending companies and insurance companies as a basis for determining your risk factor. With it they can either reject your application or increase your monthly premiums. Employers often check a job applicant’s credit report to see how financially responsible you are, also.

But I don’t have a credit history

Even if you think you don’t have a credit history, make sure that it is so by getting the free credit report and score from the official websites. A student loan and a bank account will appear in your report and is considered part of your credit history. If in fact you have no credit history in your report, you can start building it by opening a bank account and applying for a credit card. Store credit cards will also help. But, you can afford to pay in cash? Keep your credit card active by using it and paying it in full at the end of every month. That way you are creating a good credit history but not paying interest rates.