Credit Score Check: An Acknowledgment To Your Credit Card
By chriscornell. A how to tutorial about Credit Score Check, Finance with step by step guide from chriscornell.
Today most of the people find it quite important to check their credit score. This is because of number of reasons. The most important reason is to apply for a house or car loan. At that time, it is better to have a credit score check to avoid the embarrassing situation of having the application for loan turned down. You can have your credit check with any of the credit report agency. These types of agencies measure your credit history that is usually in a weighted number. The score provided will help you know how well you are handling your credit.
There are three recognized credit agencies that can help you get your credit score report. They are Equifax, Experian and TransUnion. They collect details of credit history from the creditors and calculate the score using credit scoring software. However, each agency employs its own method of calculation even though the statistical scoring models are the same. Hence the score provided by different credit agencies are comparable.
How Can You Check Your Credit Score?
Since you can check your credit score only with the credit bureau, it may require you to spend some money. There are ways to check
it free too. They are:
1. If you log into to AnnualCreditReport.com and send a request for a free credit score report, you will be able to view it and print it free. However, it is possible to get it only once in a year because this site is sponsored by Experian, TransUnion and Equifax, the three recognized credit bureaus.
2. Another way is to enroll your name in freecreditreport.com; a company specialized in credit report monitoring system. Under this system, you have to pay a small fee every month to enable them to monitor your credit report. This system is favored by most of the people as they want their identity to be protected.
3. The other site that offers a free credit report is myfico.com. It provides you Equifax FICO score mostly used by the big banks in the US.
Other than the borrower the prospective lender contacts the credit agencies for the credit report. This will help him or her to decide wisely. Meanwhile, the borrower can also find out from the credit score check whether he is eligible for a loan or not or if he has had already one, a better credit score will help him have a reduced interest rate. Thus, you can check your credit score for a better credit rating.
Original article published on PubArticles.com