Your credit score is the most crucial credit information that is used to determine your creditworthiness. Banks, lenders, and creditors will use this number to make loan approvals and to set your loan interest rates. You credit report is simply the raw data to calculate your score! But your scores are NOT included in the free gov credit report that you receive once per year. You currently have to pay to see your scores from each of the 3 credit bureaus. Fortunately, these services below will allow you to see your credit scores for FREE!
|Offer Name:||Our Rating:||Free Credit Scores:||Trial Period:||Benefits:|
|7-day trial||Free Credit Scores immediately online. Three bureau monitoring|
|TransUnion||7-day trial||Free TransUnion score. 3 bureau monitoring.|
|TransUnion||7-day trial||Free TransUnion Score. 3 bureau monitoring.|
Check your credit reports and scores frequently
There are many who prefer to monitor their own accounts and protect their own identity. However, using a credit monitoring service has lots of benefits as they monitor a host of things for you. They monitor your personal information, bank accounts, credit information and other financial information. With their support and help you become aware of any dubious activity if any is happening on your accounts or personal information. Here are some areas where credit monitoring services can be beneficial rather than you monitoring your credit on your own.
In case of identity theft, you get a prompt intimation from the credit monitoring service, which helps you to act immediately.
Early detection will help you to protect your accounts from further damage.
As credit monitoring services are available at all times, your credit will be monitored even when you are busy or out on vacation.
If you forget to monitor, your credit may get affected adversely. This will not happen when you hire credit monitoring services as they will give regular update on your credit.
Benefits of checking your credit from all 3 credit bureaus
Your credit score plays a vital role when you apply for a personal loan, home financing, credit card, car loan or any such credit activity. The lenders, landlords, etc. check the reports of the credit bureaus that are the reporting agencies (namely TransUnion, Equifax and Experian). Though they may not refer to all the three reports it is advisable to get the report from all the three agencies. With all the three reports, you can analyze them and identify differences in information that are reported. You can also identify particular information that may be reported by only one of them.
Let us take an example: Your credit card information has been stolen and the ID thief purchases a car with your information where the dealer pulls out your credit report from TransUnion. Now, if you have only subscribed to get alerts from Equifax, you will not be intimated of this transaction. You will only get this information after a month in your credit report by which time the ID thief will be enjoying the car at your cost.
By availing the services of all the three credit bureaus, you will be alerted for inquiry even before the transaction is approved and this will prevent you financial damage and also protect your identity.