What You Need to Know about Checking Your Credit Score
Your credit score is easily the most important three-digit number in your life. You need it to navigate the financial world, and you need it to get most of the essentials necessary for survival. Because of that, you will need to know about checking your credit score.
What to Know About Checking Your Credit Score?
These are some of the questions that people ask about checking your credit score. They should help you to understand the process so that you'll know what to do when the subject comes up in your life.
Is It OK to Check Your Credit Score?
You have the right to check your credit score any time you want to check it. It's your score. It's always best to check your credit score yourself in a way that doesn't hurt it then it is to have a lender run your credit. If a lender runs your credit to get your score, you may end up getting a hard inquiry on your report. Inquiries remain on your credit report for two years. Furthermore, a single inquiry can drop your credit score three points or more. That's why it's best to check your score using one of the methods above before you apply for a financial product. Checking your own credit score is still considered a soft inquiry, and it won't make your credit score drop at all.
What Is the Most Accurate Way to Check my Credit Score?
When checking your credit score, it's important to use the most accurate method. The most accurate method to check your credit score is to go directly to the source. Get your scores from the credit bureaus, or get them from the credit card companies using the methods mentioned above. Your lenders are the ones reporting your history. They are directly connected to the credit bureaus, and as such, you can trust their renditions of your credit score. When you use third-party companies, you run the risk of seeing some inaccuracy.
Why Would I Need to Check My Credit Score?
There are many reasons that you might need to check your credit score.
The main reason to check your score is to see where you stand. Once you see your score, you'll know whether you have to do some work to get to where you need to be to reach your intended goal. For example, let's say you want to buy a house, and you need a 580 credit score to qualify for an FHA loan. That would be a good time to check your credit so that you don't apply for something if you can't yet qualify.
You may also want to check your credit score if you're thinking about applying for a new apartment or job. Employers and apartment complexes often have criteria they want you to meet before they will hire you or allow you to live on their premises. In that situation, it would be best to check your credit score and your credit report to make sure that they're in the best possible light.
You'll want to correct any inaccuracies that exist. You'll also want to see if you can boost your score at all before you apply. It's better for you to grab hold of your own report and score than to allow these places to run it and cause you to get an inquiry on your profile.
Another good reason for checking your credit score is to ensure that no fraudulent activity is going on. Sometimes, debtors fall victim to identity theft and fraud, and they don't even realize it. They don't find out until they apply for something, and a lender denies their credit. Then they find out that someone else opened an account in their name and practically destroyed their credit.
You can avoid that issue by staying abreast of your credit score and profile. You can perform regular checks to ensure that everything is as it should be and your score is healthy.
You might want to familiarize yourself with the way the credit system works. Perhaps, you want to know which moves make your credit score rise and which ones make it drop. You have the right to order your credit score and profile and look at them if you're curious about such things.
Finally, you may want to check your credit score and report for inaccuracies. Your address information might be inaccurate, and you may have to do something to improve it. Your place of employment might need to be updated. One or several of your balances might be off, and that can change your credit score. Furthermore, you might have a negative item on your report that's past the seven-year mark. You can request that the credit bureau remove the item from your credit report. You have a right to do so.
How Do You Check Your Credit Score?
Checking your credit score is a simple process. The way you check it depends on the service you use for checking your credit score. If you go through your credit card company, all you'll need to do is log in to your credit card account. You should see an automatic update of your credit score. If you're going through the free third-party site, you can log into your account and wait a few seconds to update your credit score. You'll see the new figure shortly after you log into your account.
If you're using a credit monitoring program, you'll receive automatic updates to your credit score via email or text message. You can set the preferences when you sign up for the credit monitoring program.
If you are checking your credit score through a new third-party site or credit bureau, you'll have to verify your identity. Online verification processes have become more stringent over the years because of fraud. Therefore, the page will most likely present you with some difficult questions to which only you know the answers. Once you finished verifying yourself and making any necessary payments, you will receive your updated score.
How Can I Get All 3 Credit Scores?
Getting all three credit scores from one site at once for free can be difficult. You may have to absorb some expenses if you want all three scores delivered to you at once from the same provider. You can get your reports for free easily, but the scores are a little more difficult to access in that manner.
One thing you can do is sign up for a credit monitoring service. For example, sites like True Credit have deals going on that give users access to all three credit reports and scores. The catch is that those users need to sign up for a credit monitoring service. This may be a huge benefit to you if you want to keep an eye on your credit score, however. Credit monitoring services will alert you the moment anything about your credit report or score changes. You'll receive such notifications by email or text message so that you can handle them appropriately.
Different sites charge different pricing for credit monitoring services. It's best if you shop around to find a deal that will meet your needs and not break the bank at the same time. If you want to do it for free, it would be best to grab your scores individually using the free methods mentioned above.
Can I Check My Credit Score for Free?
You're entitled to check your credit report for free at each one of the credit bureaus at least once per year. All you need to do is request it. You can also visit one of the popular annual credit report sites and request a free copy of your Equifax, Experian, and Transunion scores. You will have to go through a verification process to prove your identity before you will be given access to your credit reports.
However, checking your credit score is not the same as checking your credit report. The credit report is a breakdown of all your existing accounts, payment history, personal information balances, and the like. The credit score is the three-digit number that tells potential lenders your numeric creditworthiness. You can still get your credit scores for free using the following methods:
#1 Check Your Credit Card Accounts
Certain creditors will give you free access to your credit score if you have an account with them. For example, Capital One provides its customers with access to CreditWise. CreditWise provides regular updates to one's Transunion credit score. Credit One Bank allows its clients to have access to their Experian credit score each month. Discover is rumored to provide customers with their Equifax score.
#2 Visit a Third-Party Site
Don't fret if you don't have a credit card that will help you with checking your credit score. You can go to a third-party site that can help you check your score, as well. Credit Karma is a popular site that consumers use to get connected to their credit scores for free. Credit Karma provides access to Transunion and Equifax scores for free. Clients can log in to get weekly updates to see if their scores have changed. They can also download the app and get updates on their smartphones to see if their scores have changed, as well. You may want to try this site to see how it works.
#3 Get Prequalified
You can also perform a prequalification to see where you stand. Certain credit card and auto loan companies have prequalification forms that people can complete to see if any offers exist for them. These reports may generate a credit score without harming your credit. You see, there are ways to get your credit score for free. You just have to know the right strategies.
Which Credit Report Is Best?
It's hard to say which credit report or credit score is best when you're dealing with at least three different credit bureaus. All potential lenders will check your credit score and report before they approve you for one of their products. That being said, they can choose which credit reports and scores they want to review. Some lenders will only pull one report, while other lenders will pull all three reports and scores to get the best idea of how you're doing. This practice is most common with mortgage companies. They don't want to leave any stone unturned when it comes to lending their money to an applicant. Therefore, they will usually check all three different credit scores and reports.
The best practice is to check your standings with all three bureaus and check all three of your reports and scores. Then you need to take steps to improve each of them individually. That way, you won't have to worry about which lenders check what report or score. You'll have the highest score in all three areas, and you can feel confident about your approval odds.
What Is the Best Site to Get All 3 Credit Reports?
When determining the best site to get all three credit reports, you need to look at several factors. You need to consider the ease of use, the price, and the delivery speed.
AnnualCreditReport.com is listed as the most reliable site to get all three credit reports. The Federal Trade Commission stands by its reliability, and that means you can trust it. The FTC does not control the site itself, but it does list the site as the best place to go to get all three reports. The FTC is an organization that was founded to protect consumers from identity theft, fraud, scams, and debt collector harassment. You can trust that they have your best interests at heart. You should visit AnnualCreditReport.com if you would like access to all three credit reports at once for free.
The answer to the question, "How do I check my credit report?" is straightforward. To receive your credit reports from AnnualCreditReport.com, you need to visit the website and click the button that says "Request Your Free Credit Reports." The site will take you through a three-step process. The first step is verifying your identity, as we mentioned before. The second step will be to choose the reports you want to view. You can request one or all of your Equifax, Transunion, or Experian credit reports.
How Can I Check My Credit Score Without Hurting It?
There are several ways you can check your credit score without hurting it. You can complete a prequalification application for a mortgage, auto loan, or credit card. You can access your credit score updates through one of the credit card companies mentioned above. You can also check your credit score on sites such as Credit Karma, Mint, Credit Sesame, and so on. You can also gain access to your credit score through your credit monitoring program. All of these methods will give you access to your score without affecting it in any way. Remember to stay on top of it and take steps to improve it every day.
Contact Us for Additional Support
You should now have a firm grasp on checking your credit score and everything that it entails. Please know that you can reach out to us for help if you need further assistance. We are an advocate for debtors who help connect them to the financial products and services they need. We are not a lender of any kind. However, we have a healthy database of reputable lenders who can provide you with anything you need. You can go through us to find funding for personal loans, mortgages, car loans, credit cards, and more. You can also use our services to find education on personal finance topics and tools that can help you succeed in the financial world.
Use Goalry to Take Charge of Your Credit Score
It's free to sign up for access at the Goalry Mall. Simply visit the site and request a Member Key at the mall entrance. Once you have your key, you can unlock the door to your personal financial freedom.
Recently, we launched an app called the Goalry Mall. The Goalry Mall is your one-stop-shop for everything financial. We designed it like a shopping mall to make it more personalized and appealing to our clients. The way it works is that you sign up for a member key. Signup takes only a few minutes. Once you have a member key, you will have access to any part of the mall you want to enter.
The third floor is where you will find all the various stores where you can find loans and personal finance tools. In your case, you may want to stop into the Creditry store for products and services that pertain to credit. We also have a Debtry, Insury, Billry, Budgetry, Taxry, Loanry store, and more. We're confident that you'll find what you need there. The second floor is where you can find educational information. The first floor is where you can go if you want to interact with other people who share the same goals and interests. You may also find advisors who can help you with your journey. We can't say enough positive things about the Goalry Mall. It's something you'll have to see for yourself.