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How to Get Accurate Credit Score for Free 2017
In today’s financial world, having a good credit score is essential. Whether you are looking to buy a house, get a loan, or even apply for a credit card, your credit score plays a crucial role in determining your eligibility and interest rates. While many companies charge a fee for accessing your credit score, there are legitimate ways to obtain an accurate credit score for free in 2017. In this article, we will explore these methods and provide answers to frequently asked questions regarding credit scores.
Method 1: AnnualCreditReport.com
The first method to obtain your credit score for free is through AnnualCreditReport.com. This website, authorized by the federal government, allows consumers to access their credit reports from all three major credit bureaus (Equifax, Experian, and TransUnion) once a year, free of charge. Although it does not provide your credit score, it is a great starting point to review your credit history and identify any potential errors or discrepancies that may be affecting your score.
Method 2: Credit Card Companies
Another way to obtain your credit score for free is by checking with your credit card company. Many credit card issuers now offer free access to credit scores as a benefit of being their customer. This service is usually provided through their online banking platform or mobile app. While not all credit card companies provide this feature, it is worth checking with your issuer to see if you have access to your credit score for free.
Method 3: Credit Score Websites
Several websites now offer free credit scores to consumers. These websites use soft credit inquiries, which do not impact your credit score, to provide you with an estimate of your creditworthiness. While these scores may not be the exact same as the ones used by lenders, they can give you a general idea of where you stand financially. Some popular websites that offer free credit scores include Credit Karma, Credit Sesame, and WalletHub.
Method 4: Credit Monitoring Services
Lastly, credit monitoring services can provide you with your credit score for free, along with additional services such as identity theft protection and credit report monitoring. Many of these services offer a free trial period, during which you can access your credit score without any cost. However, it is important to read the terms and conditions carefully, as some services may start charging a monthly fee after the trial period ends.
FAQs:
Q: Why is it important to have an accurate credit score?
A: Your credit score is a reflection of your creditworthiness and financial responsibility. Lenders use this score to determine your eligibility for loans and credit cards, as well as the interest rates you will be charged. A higher credit score can save you thousands of dollars in interest over time.
Q: How often should I check my credit score?
A: It is recommended to check your credit score at least once a year to ensure accuracy and identify any potential errors. However, if you are planning to apply for a major loan or credit card, it is a good idea to check your score a few months in advance to give yourself time to improve it if needed.
Q: Will checking my credit score negatively impact it?
A: No, checking your own credit score will not negatively impact it. These inquiries, known as soft inquiries, are not visible to lenders and do not affect your creditworthiness.
Q: Are free credit scores as accurate as those provided by paid services?
A: While free credit scores may not be identical to the ones used by lenders, they can still provide you with a general idea of your creditworthiness. If you are looking for a more accurate score, you may consider purchasing it directly from the credit bureaus or using a paid credit monitoring service.
In conclusion, obtaining an accurate credit score for free in 2017 is possible through various methods such as AnnualCreditReport.com, credit card companies, credit score websites, and credit monitoring services. By regularly monitoring your credit score, you can stay informed about your financial status, identify any errors, and take steps to improve your creditworthiness. Remember, your credit score is a valuable asset that can greatly impact your financial future, so it is important to keep it accurate and up-to-date.
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