What’s My Credit Score Free? Is A Question With An Easy Answer
Posted at by ifydcat on category CreditYou may be wondering about your credit score and more specifically asking, “What’s my credit score free?” Why would you need to know this number? Well, your credit score as well as the credit scores of every other person have become infinitely more important and valuable within the sphere of a financial life.
Your number will trail you throughout your life and play a large factor in any future financial decisions of great importance, like the purchase of a new home.
If you find a website that promised to only give you your score, look somewhere else. What you need to find is your actual credit report and this information is free to you since it is your report and you have a right to the information. Stay away from sites asking you to enroll in a paid program.
Your credit report is what ultimately determines your credit score and is an exhaustive listing of all your credit information. A report will list your outstanding balances, any stops and starts in paying off your debt, as well as inquiries made from others and other issues like if you have ever filed for bankruptcy. Using a mathematical equation this information is tabulated into what is called your FICO score, or credit score, and the higher the number the better your credit standing.
FICO scores can range from the low three hundreds up to eight hundred and fifty. The higher your score, the more fiscally responsible you are purported to be. Up to ninety percent of all banks use your FICO score in determining whether you are a good risk to lend money to.
Being financially responsible means taking your financial situation seriously and keeping track of your credit. Also, credit reports allow you to find mistakes or, in worse case scenarios, evidence of an identity theft. Criminals can go for years undetected because consumers rarely take time to go through their credit reports. Take control of your life in all areas by looking into your credit score.
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