Traditionally, the only way to get a credit score was to pay for it. Unfortunately, many credit agencies used certain models like FICO that can be expensive. On top of this, accessing your credit score monthly could become a large line item on your budget.
Fortunately, there are now a number of ways to get a credit score free.
Understand all the criteria
Before you start seeking out the various free options, it’s important to understand the criteria for a good credit score. These numbers range from the lower 300 point system to the high 800 point system, with the most desirable scores falling in the 700s range.
The criteria include your payment history, such as monthly bills with credit cards and loan payments over the last six to nine months, and the amount of available credit that you currently have. Other factors include the length of your credit history and the amount of debt you owe.
These are all important to understand as you look for free credit scores, since you’ll want to make sure they meet the criteria necessary for good credit.
Check with your credit card issuers
Credit card companies know how important credit scores are for customers, so they’ll often offer free credit scores to their customers as a perk. These services can include monthly checking of credit scores, or simply a detailed report at no extra cost.
If you have any credit cards, it’s worth checking if they offer this free service. Some issuers will offer you not only a score, but a detailed credit report as well.
Check with your banks
Banks are another great source for free credit scores. Some of the larger banks have been known to offer customers credit scores as a perk. Typically, they won’t offer a detailed credit report, but they will at least offer a score and any other pertinent details.
Look into the various app offerings
Today, there are numerous apps available to help you track your credit score. These apps make it easy to monitor your credit in real-time and they are usually free.
One such app is Credit Karma. This app allows you to track your credit and receive notifications when your score changes. Best of all, it’s free. Credit Karma can also help you find new credit opportunities, which can help in boosting your credit further.
Another app is Credit Sesame. This app is also free and can help you monitor your credit score, as well as alerting you to any changes in your credit standing.
These are just two examples of popular free credit score apps. Other include Creditwise and Mint.
Check Your Credit Union
Many credit unions provide free credit scores to their members. Those that do will likely provide members with either Fico or Vantage scores.
If you are already a member, it’s worth checking with your credit union if they offer this perk and, if so, how to register.
By understanding the criteria for a good credit score, and by utilizing the various resources available to get one free, you can easily stay on top of your creditworthiness and take advantage of all the positive benefits that come with having a good credit score.
Article Created by A.I.