Can I See My Credit Score For Free?

The Great Recession gave more people than ever cause to worry about their credit scores and they have taken to the internet in droves to take advantage of free credit reports. There are several companies that offer free credit reports and free credit scores online and it is advisable to take advantage of this service to know your scores. However, it is important to differentiate between free credit reports and free credit scores. A credit report gives a report on creditors, payment history, loans, records, and such other details. A credit report will not show any scores. On the other hand credit scores are calculated based on several factors of your credit report at any given time. These credit scores are usually made available to any financial institution that you request credit from.

What Is My Credit Score?

Credit scores are derived from a combination of all the scores from the major credit bureaus and credit scores are used to calculate a person�s credit worthiness. This is most important when a person is looking to buy a home. Not all credit bureau sites are willing to give free credit scores from all three major credit reporting bureaus. Most of these sites give one score and then you will be required to pay for the other two. It is important to note that these credit scores are the main determinants of your financial credibility and trustworthiness. It shows whether you can be trusted with other people's money. It is vital to take control of your credit at all times no matter what you are going through.

Where are the Real Free Credit Scores?

Governments do not give free credit scores since they are not part of the arrangements with credit reporting agencies. Though credit scores are usually given for free if you pay to view your credit report with Transunion, Equifax or Experian, there are several companies which are making money online by selling credit scores to consumers. Many of these companies are legitimate, but they often require signing up for monthly services, which can be costly. For a person in debt, paying for monthly credit score information is not necessary and that monthly fee would be better served going toward paying down debt

FICO, the company who issues some of the most trusted credit score numbers in the business, offers free score simulation on their website. You enter general information about your financial history and FICO issues its best estimate of your score. This simulator is not your actual score, but it is a free tool that can be helpful in figuring out where you stand financially.

If you are in debt and curious about your credit score, contact Advantage CCS. Our credit counselors can help you find a cost-effective way to locate your score and can put you on a debt management plan that will help you get your score where it needs to be.