Banking & Savings

How To Find Out Your Credit Score

Many people are unaware of how important it is to know their credit score and what is on their credit report. You should check you credit report at least once every year. This ensures that you know every account on your credit report is accurate. You can also have a peace of mind knowing that the accounts on your credit report are accounts that you actually opened.

When getting your free yearly copy of your credit report, what you won’t be able to get is your credit score. You have to pay to receive your credit score but it is worth the cost. You must be aware of your credit score. Your credit score determines how creditors look at you. It determines whether or not a lender wants to do business with you. Your credit score gives lenders the information they need to know whether or not you are worth taking the risk. If they do decide to do business with you, then your score determines how high or low your interest rates will be.

Your credit follows you everywhere. It is an important factor in life that many people overlook or take for granted. Your credit history is taken into consideration when you are looking for a house or an apartment, whether you are buying or renting. When you are looking for employment, employers can look at your credit report which could give them an idea of your credit score. Your credit report and credit score is often used to help determine what type of person you are. This is why is it is important to know your credit history and stay on top of it.

There are a number of ways to get your credit report and/or your credit score. The best option is to use www.myfico.com. The vast majority of lenders use the FICO score to determine whether or not they want to lend to you. Using this site to get your credit score will allow you to see what your potential lenders are seeing when they are considering your for credit.

Knowing your FICO score can save you time and money in the future. If you know what your score is, then you will know what loans you are eligible for and which ones you are not eligible for. When applying to prospective lenders, every time you have an inquiry you could potentially lose points to your FICO score. It is essential to know where you stand so you don’t have to have unnecessary inquiries on your credit report.

Using the site has other advantages as well. Along with your all important FICO score, the site also offers helpful advice on how to repair your credit and improve your score. There is information that informs you how to use credit cards to fit your financial needs. There is also informative reading material regarding the many things you should know about your credit score. Your credit is important to your financial future and you should always be knowledgeable about your credit rating.

1 Comment

  1. kate April 24, 2018 at 7:57 am - 

    I am just getting out of high school, never bought nothing under my name, never did nothing with my social security number. What is my credit score?

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