Free Credit Score vs Free Credit Report Gov

Bottomline, lenders use your credit SCORES to make loan decisions. Not your credit reports. The details in your credit reports are like the exam questions and your SCORES are the final grade you get. This grade or number is what lenders, bank loan officers, and creditors, will use to approve or disapprove your loan requests or to set your loan interest rates to every type of loan request – mortgage Loans, auto loans, personal loans, credit cards, etc. If you’re on a job hunt, a potential employer may perform a credit check to see if you are financially responsible. Problem is, you’ll need to pay each credit bureau for the privilege of seeing your scores. Your scores are NOT included in your free annual credit report (aka free credit report gov). Fortunately there are services like the ones listed in the chart below which can help you obtain a free credit score.

Offer Name: Our Rating:
Free Credit Scores Received: Bureaus Monitored: Trial Period: Benefits:


See Offer

All 3 Scores:
TransUnion
Equifax
Experian
TransUnion
Equifax
Experian
Free 7-day Trial All Free 3 Credit Scores.
3 Bureau Credit Monitoring.


See Offer

All 3 Scores:
TransUnion
Equifax
Experian
TransUnion
Equifax
Experian
Free 7-day Trial All Free 3 Credit Scores.
3 Bureau Credit Monitoring.


See Offer

Single Credit Score TransUnion
Equifax
Experian
Free 7-day Trial Free Credit Score. $1 Credit Report.
3 Bureau Credit Monitoring.


See Offer

Single Credit Score TransUnion
Equifax
Experian
Free 7-day Trial Free Credit Score.
3 Bureau Credit Monitoring.


See Offer

Single Credit Score TransUnion
Equifax
Experian
Free 7-day Trial Free Credit Score From TransUnion.
3 Bureau Credit Monitoring.

THIS NOTICE IS REQUIRED BY LAW. Read more at FTC.GOV. You have the right to a free credit report from AnnualCreditReport.com or 8773228228, the ONLY authorized source under federal law annualcreditreport.com

Credit Reports and Credit Scores. What’s the difference?

A credit score is a score based on the information on your credit report. Using unique algorithms to calculate your score. Information such as punctuality of payment such as mortgage loan payments, credit card monthly payments, auto loan payments, etc. Other factors which go into the calculation include the total ratio of debt versus the amount of credit limit you have. ex: You have a credit card where the credit limit is $10,000. Your debt balance is around $3000+. (You still have the ability to spend $7000 on this particular credit card}. What you don’t want to do is to max out on that credit. These factors can influence your credit scores. Length of your credit history is also a factor. The longer you credit history, the better. The size of your credit limits is also a factor. In the US, the a FICO credit score is well known. It utilizes it’s own unique mathematical algo to calculate your score. There are additionally different services that uses its own unique algo to calculate your score. Beacon, Empirica, just to name a few. FICO scores vary from 300-850 wherein a score under 600 is considered “bad” while a score above 720 is considered “good”. Other scores have a different number range and hence a different figure for what’s considered good or bad.

Credit reports on the otherhand contain the detailed transactions that go into figuring out your credit scores. Lenders may quickly peruse your credit reports especially if you have a bad score to point out why your scores are bad. But they ultimately will rely on your scores to set loan interest rates, approve or deny you credit, etc. They do not actually calculate your scores. They leave that to the aforementioned services and their algos. Potential employers, landlords, etc often utilize your scores as well. Not just lenders. But your free annual credit report from does NOT include your scores. Several firms – usually credit monitoring services and identity theft protection services – will often provide your credit scores during their free trial offer period. You can also purchase your scores individually from each of the 3 major credit bureaus – TransUnion, Equifax, and Experian.

Does subscribing to credit monitoring services make sense?

Consider these facts: Over 1 in 10 americans will become a victim of identity theft or credit fraud. Average losses incurred are said to be over $5000 per individual. This is when you rely solely on paper statements to monitor your credit. On the otherhand, studies have shown how those who utilize credit monitoring services only reach losses of around 1/10th of that amount ($500+) because they’re quickly alerted to any fraudulent credit activity. And since pretty much all credit monitoring services have some sort of identity theft insurance in place (up to $1 million in some cases), any losses you’d incur from identity theft or credit fraud is quickly recovered.

Related Free Credit Score Articles

How to Get a Free TransUnion Credit Score Report

Anyone who has not heard of TransUnion is either someone living in the past or someone who can afford to just stay at home without any means of communication with the outside world. It is one of the 3 credit bureaus which banks and creditors rely on to check if a person has a good credit standing. Thus, one can stay on top of the situation by getting a copy of your free annual credit report from annualcreditreport.com. You should also see your free annual credit score as well since it’s the same report that your respective banks or creditors will have access to. Is it really possible to get a free TransUnion Credit Score?

One should not be surprised that there is absolutely no way to get a free TransUnion Credit Score report. However, most services offer a free trial period where one has sufficient time to ask and obtain a copy of their credit report; that is if that is all you wanted to do. It is important to keep in mind however, that obtaining a copy of the report is just the first step. When you see that there is a negative item on your report that is incorrect, would you be able to live with that knowing that it would mean higher interest rates or payment terms for you? That will be quite unacceptable.

Thus, after obtaining a free TransUnion Credit Score report, the next step is for one to dispute the incorrect items in order to update and improve one’s credit standing. Without the help of professionals or experts in this arena, it may be impossible to overturn the negative items or it may take a very long time. That is fine if you are absolutely sure that you do not have to apply for credit anytime soon. However, this can be a serious problem when an emergency arises and you have no choice but to acquire a loan. If this is not corrected in time, you will have to live with paying higher interest rates and saying yes to high monthly payments.

This is why it is important that as soon as you get a free TransUnion Credit Score report, you need to make sure that any incorrect items are disputed. The amount of money you will spend for such an undertaking is definitely less than the extra amount you need to pay for in debt interest and payments. In addition, you can also be updated if there are changes in your current credit standing because of your financial activities. Thus, you will be able to keep tab of your financial standing on a regular basis and make sure that everything is accurately reported at all times.

The sooner one can get his free TransUnion Credit Score, the higher are the chances that he will be able to fix the incorrect items before he encounters the need to avail of a loan. With this in mind, one can be sure that he is able to get the best applicable interest rates and will be able to manage his finances better. In the long run, the amount he spent in keeping tab of his credit report is well worth it.

For more details see: www.bestfreecreditscores dot com and get instant access and get up to ,000,000 worth of identity theft protection with the best credit monitoring service online.

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