If you are looking to get a loan for financing your studies/home/car, or are planning on getting a credit card, there’s one thing that you’d need besides undertaking all the documentation and formalities. That one pertinent thing is your credit report, which is nothing but a detailed analysis of an individual’s credit history including snapshot of one’s credit account loans, mortgages, credit cards and repayment that depict your creditworthiness.
Credit reports are usually prepared by specialized credit bureaus and consists of a credit score based on which a prospective lender would extend you a desired loan amount.
Naturally, an individual having a high credit score will more easily get a loan or credit card than an individual without good credit. Thus, one must be cognizant of his/her credit score before applying for a bank loan or credit card. *See how to get credit cards matched with your credit profile using CardMatch here.
They say the best things in life come for free and your credit score and report is surely one of them.
Here Are Some Of The Best Ways To Get Your Free Credit Score
But first, your free credit report…
Today, one can easily find a number of websites that offer a free credit report but in case you aren’t very confident about their results, we suggest you to stick by the reports and scores provided by governmental agencies themselves. Yes, the 3 credit bureaus determining one’s credit score are required to provide every individual a free credit report annually. Thus, the best way of taking advantage of this scheme is to order your free credit report from one of these agencies on quarterly basis. You can log onto www.AnnualCreditReport.com to get this federally mandated annual credit report today.
If you want your free credit score on a more frequent basis, you can use the ad-supported website called Credit Sesame (I reviewed it here). You’ll have to provide your complete personal information in order to generate your current credit score on this website. After entering all the requisite information, you will be directed to an Experian credit report having a range from 300-850.
If you want to keep constant tabs over your weekly credit score, Credit Karma is one of those sites that will provide a weekly updated score. The credit score generated on this website is based on the TransUnion credit report and provides one with insights of his/her credit score apart from offering ways and means of improving the score in order to speed up the process of obtaining loans or a credit card.
Today’s Credit Cards
Knowing how valuable a free credit score is today, many credit card companies are now providing scores for free along with their online monthly statement. I used to get this benefit with only my Discover credit card, but now all my cards from Barclaycard also offer it and all the other issuers have followed.
*If you’re interesting in a good credit monitoring service, take a look a my review of MyFICO.com. It’s one of the most popular services.