Six best ways to know your free credit score online within minutes

Six best ways to know your free credit score online within minutes

Credit score is what shows the money wise worthiness of a person. There are various reasons credit score is necessary. If you are taking a loan from a bank for mortgage of a house, or when you apply for a credit card, or if you take some loan and the lender or any such financial institution wants you to know that whether  you can pay your debts in time or not.

This score is computed based on the credit report that the three major credit bureaus named Equifax, TransUnion and Experian gather about you. They gather your data from banks and other financial institutions that you have dealt with. Your credit history will affect how your credit score will come out. It is computed through a special formula that grades five different points of your credit history.

A credit score is the numerical value that will measure your creditworthiness. It indicates how you handle your finances, your ability to pay off a debt and your payment behavior. Lenders need all of this information to determine if you are a high risk borrower or not. The lower your score is, the higher you are graded as an investment risk. If you are found to be very risky, they will have to take steps in order to protect their investment.

The credit score looks at both the positive and negative aspects of your credit data. Even if you have a lot of debts, it is possible for you to have a high score – at least if you are good and diligent with your payments. Also, if you have no credit cards or accounts you will most likely have a low score. This is because there is no data supporting how well you can pay a debt or not – thus making you a high risk borrower.

Credit scores

The credit score  of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most credit scores fall between 600 and 750. You can get your credit score for free online in just seconds.

Earlier to get your free credit score you need to sign up for a seven or 30 day trial. You had to enter your credit card, and if you forgot to cancel the membership, they started charging your card. But now there are several options you can use, including ways to get your official FICO credit score totally free without a credit card and without worrying about a trial membership expiring. Here are thus the six best ways to know your free credit score online within minutes.

1. Credit Sesame

Credit Sesame- know your credit score for free

Credit Sesame popular online credit score website. In addition to being totally free and no credit card required, it offers a wealth of information about your credit score and finances. It also provides details on what factors are affecting your score. These factors include payment history, credit usage, age of credit, account mix and credit inquires. Also  Credit Sesame also gives you insights into your debt, including mortgages and school loans.

They use TransUnion (VantageScore) to show you what’s impacting your credit score, if you are overpaying on your loans and credit cards, and how your financial picture compares to your peers. Also show you personalized, objective savings recommendations on home loans, credit cards, auto loans and more.

2. Credit Karma

Credit Karma

Credit Karma also offers a totally free credit score. You don’t need a credit card, and you can get your score in minutes online. It’s always a few points higher or lower than Credit Sesame, but usually in the same ballpark. Each member is allowed a free credit score every six months and Credit Karma is kind enough to email you when it’s time to check your credit score again for free. One great feature is that you get instant access to your score. It also alerts you when there’s an important change on your reports. Also what affects your credit scores and what you can do to improve them.

3. Official FICO Score

Credit Score from FICO

There are several ways to get access to your FICO score, some free, some with a small fee.

To get your official FICO score, myFICO is the place to go. It costs $29.95 a month. Though with this cost you can access a new 3-bureau credit report and 28 FICO Scores every quarter—including the 19 FICO Scores most widely used in mortgage, auto and credit card lending, and the newly released FICO Score 9.

  • Track your FICO Score 8 from each of the 3 credit bureaus on a historical tracking graph
  • Monitor changes to your credit reports from all 3 bureaus and get FICO Score 8 updates
  • Detect threats to your personal information with intelligent identity theft monitoring
  • Restore your identity with expert identity theft features

myFicofor credit score all free

If you want absolutely free score from FICO then visit this site and get free credit score without the need of credit card. What you get here is free Experian Credit Report and FICO Score, Report and Score Refreshed Every 30 Days On Sign In, FICO Score Monitoring with Experian Data, Experian Credit Monitoring and Alerts, Free Dark Web Surveillance Report and Toll-Free Support Available 7 Days a Week.

4. Experian

Credit score get it all free

You can also check your free credit reports in minutes at Experian. You do not need any credit card or any other document to check your free report. Your Credit Report captures financial information that lenders use to determine your creditworthiness. This includes the type of credit accounts, current balances, payment history, and any derogatory items you may have. You will also get a summary of your account totals, total debt, and personal information.

Get an updated Experian Credit Report every 30 days when you sign into your account. Information in your Credit Report is frequently being added, updated or deleted. Account information is typically updated every month, and each account may be updated on different days. If a public record is filed — a civil judgment, tax lien, or bankruptcy — a record of the filing may take a month or more to appear.

You get your Experian credit report and FICO score when you sign up for Experian’s Score Tracker. You get a 7-day free trial.

5. TransUnion

Transunion - get free credit score

With TransUnion, you get your FICO score and report for as part of their subscription credit monitoring service. You will be billed at the low monthly cost of $19.95 per month (plus tax where applicable). You will get unlimited updates to your TransUnion credit report and score; Email updates for critical changes, Personalized debt analysis and credit score trending and  more.

6. Credit cards

Credit cards to check free credit score

There are several credit card issuers that provide free access to your FICO score. Some of them are

American Express: American Express  gives you free access to your FICO score based on the FICO 8 formula.

Capital One: Capital One provides a non-FICO score, called CreditWise. The score is calculated based on the TransUnion Vantage Score 3.0 model. Customers can, of course, access their scores through this system.

Discover: Discover provides free FICO scores from your TransUnion credit report. It’s available on your monthly statement and online. You get the score and the two main factors that affect it.

Barclaycard: Barclaycard provides FICO scores to its cardholder customers on its website. The score is based on your TransUnion file. It also provides email alerts, letting you know when your score changes

Commerce Bank: Commerce Bank customers can now access their FICO scores on their monthly credit card statements. The score is automatically reported on each statement, and includes a list of score factors and options for improving your score. Plus, you can see how your current score might impact interest rates and other credit terms.

First Bankcard: First Bankcard through First National Bank offers FICO scores to its cardholders and you can view it online.  They use the FICO 8 Bankcard Score, which is the score the bank purchases monthly to keep track of customers’ creditworthiness. Like other credit card credit score providers on this list, First Bankcard also provides you with the main factors that determine you score.

USAA Bank: As of late 2015, USAA started offering members, not just credit card holders, access to their free credit score. The CreditCheck & ID Monitor solution from USAA comes in several different levels.

The basic level, CreditCheck 1, offers daily credit monitoring through Experian, updates and alerts about changes in your credit score, and access to your credit score and historical scores. The credit score provided at this level is the Experian VantageScore 3.

At the paid levels (either $7.95 per month or $12.95 per month, depending on the level), customers can access additional benefits like twice monthly credit score checks, reports from the other credit reporting bureaus, and identity protection alerts.

US Bank: US Bank provides its cardholders with their credit score as provided by Experian directly from the Experian website. Its service is called CreditManager Plus. The scores are available for free to US Bank cardholders, and you simply need to log into your US Bank account and click on a link on the right side of your statement that says, “Know your credit score? Check it free.”

Walmart Credit Card: Walmart Credit Card offers a monthly FICO score for cardholders who enroll in electronic statements. Walmart Credit Cards also provide the top two reason codes affecting the score. The service is also available at no cost, and will not impact your credit score (pulling your own credit is considered to be a “soft inquiry” in the industry, and will have no affect on your scores).

There are few other credit cards that offer free credit score to customers.

Few things to note

Your credit score is reported by one or more of the three major credit bureaus.  But some of those scores do not use the FICO formula. The credit bureaus have your credit information on file that they use to generate credit scores.

Think of your credit report as containing all of the data that they put into their credit score formula to calculate a score. The credit bureaus don’t have just one credit score formula; they have many of them. Some of these formulas come from a company called Fair Isaac, better known as FICO.  None of the free offers provide an exact FICO score and unfortunately myFICO.com has discontinued their free trial program, so the only way to obtain your true FICO credit score is to pay for it.

While the credit score programs you see above use different formulas and produce different results, the credit scores from these formulas are still pretty close to one another. But getting your FICO score and when you get the scores reported by the agencies it is much of difference because the results are about the same, and they all give you your credit health score in perfect way.

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