Should I check my credit score? So many people think this through the years. However, sometimes they do not get past the thinking phase. Unfortunately this can lead to some serious financial problems.
In fact, if left unchecked these financial problems can affect your ability to purchase a home, a car, furniture, or even to simply get a credit card.
If you check your credit score and reports regularly you will be able to keep a handle on your financial profile to keep from running into problems that will require significant credit repair.
How to I check my credit score? Before talking about how you check your credit score let's talk about your credit report. There are actually three major credit reporting companies that you should know about.
TransUnion, Experian, and Equifax are the three credit agencies responsible for tracking your credit history and they are the bureaus that lenders use to tell if you are a good financial risk.
You need to realize that each of these is a separate agency and there could be different things on each report and that is why you want to be sure to check them occasionally.
There can be different credit items on the credit reports because some
of the financial institutions don't report to each credit agency.
You are entitled to one free credit report from each agency every year. When you check your credit report through the annual free program, you do NOT get a credit score with it.
In order to get a credit score you can get a free trial offer or pay for a score.
Irregularities? What could those be? Unfortunately identity theft does exist and it affects more people than you might realize. Keeping a close watch on your credit report is one of the best ways to protect yourself from it.
If you notice any
irregularities on your credit report you will want to get in touch with
the lender immediately to see if you can figure out what's going on.
So, how do I check my credit score? Well, your credit score will not be printed on your credit report. You can order it from any of the three credit reporting agencies, but recognize that there will be a fee associated with getting it.
a small fee is really minimal when you think about the fact that your
credit score is what will dictate whether you will be lent money and how
much your interest rate will be on that loan.
What if I don't want to pay money to check my credit score? There are ways to get a free copy of your credit score, but there are usually strings attached. There are credit monitoring services that will typically give you a free credit score with a subscription to their services.
Be careful, after their trial subscription they will start to charge you for those services so be aware of that.
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