Posted by: yekloyatri August 3, 2008
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Dear Stopthewar,
In United States there are three major credit bureau. Equifax, Experian and Transunion. Each have their own credit score model and they take various factors into consideration while calculating your credit score. Factors are numerous such as, number of credit accounts you have, lenght of credit history, variety of credit (credit cards, auto loan, mortgate etc) , number of credit inquiry and payment history. These mentioned factors are taken into consideration while creating your credit score by each of the company. In other words your credit score is a snap shot of your credit history. People with lower credit score are considered to be risky borrowers and the products they get are limited with a huge interest on it. Whereas, people with higher credit scores get to choose from wide ranges of products and loans and their interest rates are way better.
Most lenders check your Fico scores. Now Fico scores is a score developed by assembling credit scores of three major companies. So when you apply for a credit card or an auto loan your Fico score is checked most of the time. There are times when lenders only choose specific credit bureau score.
Now cutting the long background information short and answering your initial question. I highly recomend you to go to www.annualcreditreport.com . Now according to the law each U.S residents are entitled to one free credit report from each company every year. However, to check your score you would pay a small fee anywhere ranging from $6 to $9 for each company.
What I recomend you to do is check your credit report from one credit bureau every four month so that you really know what is going on which your credit report and scores. Do not check all at the same times because you have to wait another year to view them unless you want to pay for it.
You can also pay for the service from any of the credit bureau for unlimited credit scores and credit reports plus credit monitoring. Check their websites for additional price details. (www.equifax.com, www.experian.com, www.transunion.com). You can also visit www.myfico.com and pay for the service.
Do not fall into the trap of other companies which offer you to monitor your credit scores and credit reports they charge your substantial amount for the same service which I have mentioned before. If you have any problems with your credit or your identity is stolen contact each credit bureau and file a dispute.
I hope that above mentioned information helps. If you have any question please feel free to follow up. I am not affiliated with these companies nor do I promote and represent them. Above information is solely based on my personal research and experience.
Passionate Dreamer
YekloYatri
In United States there are three major credit bureau. Equifax, Experian and Transunion. Each have their own credit score model and they take various factors into consideration while calculating your credit score. Factors are numerous such as, number of credit accounts you have, lenght of credit history, variety of credit (credit cards, auto loan, mortgate etc) , number of credit inquiry and payment history. These mentioned factors are taken into consideration while creating your credit score by each of the company. In other words your credit score is a snap shot of your credit history. People with lower credit score are considered to be risky borrowers and the products they get are limited with a huge interest on it. Whereas, people with higher credit scores get to choose from wide ranges of products and loans and their interest rates are way better.
Most lenders check your Fico scores. Now Fico scores is a score developed by assembling credit scores of three major companies. So when you apply for a credit card or an auto loan your Fico score is checked most of the time. There are times when lenders only choose specific credit bureau score.
Now cutting the long background information short and answering your initial question. I highly recomend you to go to www.annualcreditreport.com . Now according to the law each U.S residents are entitled to one free credit report from each company every year. However, to check your score you would pay a small fee anywhere ranging from $6 to $9 for each company.
What I recomend you to do is check your credit report from one credit bureau every four month so that you really know what is going on which your credit report and scores. Do not check all at the same times because you have to wait another year to view them unless you want to pay for it.
You can also pay for the service from any of the credit bureau for unlimited credit scores and credit reports plus credit monitoring. Check their websites for additional price details. (www.equifax.com, www.experian.com, www.transunion.com). You can also visit www.myfico.com and pay for the service.
Do not fall into the trap of other companies which offer you to monitor your credit scores and credit reports they charge your substantial amount for the same service which I have mentioned before. If you have any problems with your credit or your identity is stolen contact each credit bureau and file a dispute.
I hope that above mentioned information helps. If you have any question please feel free to follow up. I am not affiliated with these companies nor do I promote and represent them. Above information is solely based on my personal research and experience.
Passionate Dreamer
YekloYatri