Loading...
Menu

Free Credit Score: How to Get Your Real FICO Credit Score for FREE

Free Credit Score: How to Get Your Real FICO Credit Score for Free

© 2016 DKNet Publishing

Written by Kent Greenfields

Table of Contents

[* How Long Has it Been Since You’ve Checked Your Credit Score? 7*]

[* Credit Reports vs. Scores – What’s the Difference? 8*]

What’s Free, What’s Not 10

[* What’s the Difference Between Credit Scores? 11*]

  • Where and How to Get Your Free Credit Scores 13*

  • Free Credit Scores and Free Credit Reports from Equifax, Experian and TransUnion 24*

Thank You 25

Additional Titles by Kent Greenfields 26

Bad Credit Kryptonite 26

High Performance Credit Repair 27

Easy Credit Repair Letters 27

Rather go to bed without dinner than to rise in debt.” – Benjamin Franklin

The rich rule over the poor, and the borrower is slave to the lender.” Proverbs 22:7

While every precaution has been taken in the preparation of this book, the author and/or publisher assumes no responsibility for errors or omissions, or for damages resulting from the use of the information contained herein. The author of this title is not a lawyer. If professional consultation is required please contact an attorney.

There are many references to credit score providers, credit report providers, banks, credit card providers, credit unions and other businesses in this book. The author and/or publisher of this title is not affiliated in any way with any entity mentioned in this book, and receives no affiliate or other compensation or any other benefit for recommending their products or services. The companies recommended in this book are done so at the sole discretion of the author as the best sources available for free credit scores and reports at the time of this publication.

  • * How Long Has it Been Since You’ve Checked Your Credit Score?

When is the last time you checked your credit score? Odds are you haven’t done so in a while – if ever. We’ve taken the time to compile an exhaustive list of the places you can go to check your credit score for free without worrying about being scammed.

[] Credit Reports vs. Scores – What’s the Difference?

A credit report and a credit score are very different products which provide potential lenders with different information; however they are both very closely related. Credit reports are detailed records of a consumer’s financial activity dating back many years and providing in depth information regarding payment activity (or lack thereof), account limits and usage, account ages and account types. In essence it providers lenders a snapshot of what type of financial responsibility the consumer has shown in the past, which is usually a good indicator of future performance, or risk. Credit reports also include information about your residence, your employer, and foreclosures or tax liens, and financial judgements.

If a credit report can be considered a snapshot of an individual’s borrowing and financial health, a credit score can be considered a snapshot of a snapshot. Acting as a numerical indicator of the information contained in a consumer’s credit report, credit scores are used by lenders and others to evaluate the potential risk of a prospective customer to determine if credit will be extended, and if so, at what rate.

Credit scores are numbers which typically range from 300 to 850, and the FICO score used by most lenders was created by the Fair Isaac Corporation (FICO) to help lenders quickly determine the likelihood that a consumer will follow through with his or her obligations and pay their bills on time.

There are actually many credit scores that are available to consumers which can be broken down into two categories – official FICO scores – and everything else. The other type of score is often called an “educational” or “consumer” score, and is different than an official FICO score. Of the two types, the official FICO score is the most important when it comes to being granted credit. The FICO score is the one used by creditors and lenders when making credit decisions, and the educational scores are usually the ones made available to consumers through various third parties, such as Credit Karma, Credit Sesame, Quizzle and others. Generally speaking, if you are able to receive a free credit score without having to input your credit card information at a given site, such as Credit Karma, the credit score you receive will be one of the several different types of educational scores.

Both types of score are calculated based on the information contained in your credit report. Various parts of your credit history including total debt, the length of your credit history, the type of accounts you have and the age of the accounts each contribute to a percentage of your overall credit score. Income is also a factor of your FICO score, as is employment history. These items are not always factored into educational scores.

[] What’s Free, What’s Not

Back in 2003 there was a very important law which was passed to make it easier for consumers to access the information that was being compiled about them in their credit reports. The Fair And Accurate Credit Transactions Act’s most important provision was providing for every American to have free access to their credit reports from each of the three major credit reporting agencies (CRA’s), Experian, Equifax, and TransUnion, once every 12 months. If you would like a free copy of your credit report, you can logon to AnnualCreditReport.com and obtain a free credit report from each bureau once per year. Consumer protection laws also stipulate that you are entitled to receive a copy of your credit report for free if you have been the victim of fraud or identity theft, or have been denied credit, such as being declined for a credit card, mortgage or auto loan.

There are also other scenarios when consumers would be entitled to a free credit report, such as any time a consumer is sent an “adverse action notice”. These are the notices that are sent out when one is denied credit or suffers some other type of adverse action, and will include the reason for the denial or change in credit terms along with the name and address of the CRA which reported the information used in the decision. Consumers have 60 days after receiving this notice to request a free copy of their credit report from the bureau named in the report.

Although the law requires that consumers are given the opportunity to receive a free credit report each year, it does not provide a free annual look at your credit score. The site setup to provide consumers with free credit reports, AnnualCreditReport.com, doesn’t offer credit scores. That’s the reason we decided to write this book. Many consumers would prefer to receive free access to their credit scores in addition to, or sometimes in preference to, free access to their credit reports. Here’s how you can do that.

[] What’s the Difference Between Credit Scores?

Technically consumers have the right to see their credit scores if they receive an adverse action notice that stipulates that the reason they were denied credit is based on their credit score. This law has been in place since 2011, and if consumers suffer an adverse event as a result of their credit score, they have the right to view the credit score which was used in the determination.

Remember a little earlier when we discussed the differences between the FICO score and the various educational scores? This is where things get a little tricky.

The credit score which your lender will use to make their determination of whether or not to approve you for credit is based on your FICO score, however the credit score that you will almost receive when you aren’t required to purchase it is your educational score. These educational scores are also sometimes known as the “consumer version” FICO score.

Many times, the only way to receive your official FICO score is to purchase it, although there are exceptions that we have detailed below. You can purchase your official FICO score from MyFICO.com. Although they do have different pricing options, typically it will cost $19.95 to purchase your FICO score, and you will need to purchase a score from all three credit reports – Experian, Equifax and TransUnion. Because each credit bureau compiles its own information, most consumers will have different FICO scores from each bureau.

You can also purchase the educational (consumer) version of your FICO score, however the consumer version of your credit score is almost always higher than your actual FICO score. According to MyFico.com, a person’s educational credit score can be as much as 40 points higher than the official FICO score the lender will use to determine if they are approved or not.

Although it can be confusing, here are the main points to remember:

*
p<>{color:#000;}. You have many different credit scores, including official FICO scores and other educational scores

*
p<>{color:#000;}. The official FICO score is usually what lenders will use to determine your creditworthiness

*
p<>{color:#000;}. You almost always have to purchase an official FICO score, whereas educational scores are often available for free

*
p<>{color:#000;}. You have 3 different official FICO scores – one each from Experian, Equifax and TransUnion

*
p<>{color:#000;}. A lender may pull a report or score from one bureau, or from all three, and their decision could be different based on the variance in scores they could potentially receive

[] Where and How to Get Your Free Credit Scores

Although not as accurate as an official FICO score, the consumer (educational) version of your FICO score can still provide some insight and give you a decent roundabout picture of your current scores. These are the most trustworthy sites we’ve identified and some of their benefits.

While you can find other sites which provide similar services for free, such as Quizzle or Credit.com, the two sites named below can provide you with the most in-depth picture of your current credit situation with the least amount of time spent signing up for different websites or services. If you sign up at both of these sites you will receive weekly updated VantageScore Credit Scores from Equifax and TransUnion as well as your actual FICO 8 Score and credit report from Experian.

You’re Equifax and TransUnion reports and scores will be updated weekly, and you will have free access (with no credit card required) to identity theft and credit monitoring services, as well as outstanding credit education tools and personalized recommendations.

*
p<>{color:#000;}. CreditKarma.com: Credit Karma will provide you with a range of features that really allow you to observe your credit over time with no hassle and completely free of charge. They will provide you with full access to your Equifax and TransUnion credit reports, as well as your VantageScore credit score from each of those bureaus. VantageScore is simply another type of estimated, or educational, credit score. It is not an official FICO credit score. In addition to weekly credit reports and score updates, Credit Karma provides credit education and tools to help you understand the factors which are either raising or lowering your score, as well as certain recommended credit cards, personal loans and other products that you are likely to be approved for based on your current credit picture. One of the biggest features of Credit Karma is that they provide free credit monitoring for these two credit bureaus. If an account is added or changed on your Equifax or TransUnion credit reports, you will receive automatic updates so you can act quickly if needed, such as in a case of identity theft.

*
p<>{color:#000;}. CreditScore.com: This website is fairly unique as it provides a free FICO 8 Credit Score from Experian along with a copy of your Experian credit report. It doesn’t provide weekly updates like the service from Credit Karma for your Equifax and TransUnion reports, but it is the only place online where you can get a full, free copy of your Experian report along with an official FICO credit score. Like Credit Karma, no credit card is required to obtain your free report and score.

While these sites are outstanding because they don’t require your credit card to check your scores or reports, and provide lifetime free credit monitoring and weekly updates of your TransUnion and Equifax credit reports, they do not provide additional access to official FICO scores for free.

Although it is very difficult to obtain an official FICO score for free, here are some of the best ways available for you to do just that.

Method 1: Check your wallet – you may have a credit card which provides your official FICO score as part of your card member benefits. As of the time of this writing the following credit cards provide official FICO scores to card members:

*
p<>{color:#000;}. Discover (TransUnion)

*
p<>{color:#000;}. Barclay Bank (TransUnion)

*
p<>{color:#000;}. Citi Bank (Experian)

*
p<>{color:#000;}. Chase Slate (Experian)

*
p<>{color:#000;}. American Express (Experian)

*
p<>{color:#000;}. Pentagon Federal Credit Union (Equifax)

*
p<>{color:#000;}. Bank of America (TransUnion)

If you don’t want to go out and start applying for credit cards without knowing if you will be approved, here’s a great strategy. Use the pre-approval links below to see if you are pre-approved for any of the cards above. Checking to see if you’re pre-approved won’t affect your credit at all, and if you are, then you can apply for one of the cards above and get your official FICO score for free once you are officially approved.

Remember that the pre-approval process will not affect your credit at all, however if you are pre-approved and decide to apply you will generate an inquiry on your credit report and a new line of credit which may lower the average age of your accounts, which could lower your credit score.

*
p<>{color:#00F;}. Chase Bank

*
p<>{color:#00F;}. [+ Citi Bank+]

*
p<>{color:#00F;}. [+ American Express+]

*
p<>{color:#00F;}. Discover

*
p<>{color:#00F;}. [+ Bank of America+]

Method 2: Open a checking account – Several major banks offer free FICO scores when you open a free checking account. You can also call to see if your current bank provides access to your credit score. According to MarketWatch reports, over 100 million U.S. checking accounts come with free FICO scores.

Method 3: Buy a Hyundai – Car buyers who finance their vehicle through Ally Financial or Hyundai Capital America, Hyundai Motor Finance and Kia Motors can see their scores for free.

Method 4: Join a Credit Union – Many credit unions give cardholders free access to their official FICO score for free. Some of the major credit unions are Pentagon Federal Credit Union, North Carolina State Employees’ Credit Union, Digital Federal Credit Union (DCU) and the Pennsylvania State Employees Credit Union. Search credit unions in your area and give them a call to see if they will give you a free credit score for joining.

Method 5: Talk to a Credit Counselor – If you make an appointment with one of the nonprofit credit counseling agencies that provide free access you can obtain your official FICO score for free. You will need to make an appointment, although some may be able to provide you with your score over the phone. Make sure to ask if they will provide you with your official FICO score when you call. Some of the organizations that participate in this program include:

*
p<>{color:#000;}. The National Foundation for Credit Counseling – (800) 388-2227 or online at https://www.nfcc.org/.

*
p<>{color:#000;}. The Financial Counseling Association of America – (866) 694-7253.

*
p<>{color:#000;}. Credit Builders Alliance – (202) 730-9390.

*
p<>{color:#000;}. Local Initiatives Support Corp – (212) 455-9800.

According to the NFCC, when you call or visit with them your credit score will not be affected in any way. Nonprofit counseling agencies such as the National Foundation for Credit Counseling offer their help for free or for a very low cost.

Method 6: Check Your Student Loans – If you are a borrower or co-signer on a Sallie Mae Smart Option undergraduate student loan you may be entitled to see your official FICO score for free. If you are in the market for a student loan, see if this option makes financial sense and then inquire as to the steps to take to find out your score.

Method 7: Shop at Walmart – If you open a Walmart Credit Card or Walmart MasterCard you will receive a monthly Fico 8 credit score as part of your member benefits. In order to receive this benefit you will need to enroll in online delivery of monthly statements when you sign up. Learn more here.

Method 8: Sign up for a free service – Some online providers will offer your official FICO score for free, although many will offer a “trial” subscription which costs only $1 or is free for 24 hours to 7 days, then begins an automatic rebilling cycle of $39.95 per month or more. No matter which service you choose, read the fine print to determine which credit score they are providing and if and when they will be charging your credit card again. Some have had success signing up for a $1 or free trial, downloading their credit reports, and then immediately calling to cancel before their cards can be charged the much higher fee. Many of the paid providers only give you access to the same type of “educational” credit score you can get from Credit Karma or Credit.com, so be sure if you are paying for a score it is an official FICO score. Search the terms of service or FAQ’s to be certain before you buy.

One of the only providers which offers free access to a true FICO score along with a full copy of your Experian credit report is CreditScore.com. You can sign up for their service without a credit card, and they will provide you with your official FICO 8 score and a copy of your Experian credit report.

  • * Free Credit Scores and Free Credit Reports from Equifax, Experian and TransUnion

Although the credit bureaus have done an outstanding job at confusing the average consumer about all the different types of credit scores that are out there, and which one will have the biggest effect on your ability to secure credit, you can gain access to almost all of the most important and accurate information available to you by following the next few steps:

*
p<>{color:#000;}. Go and sign up for an account at Credit Karma. You will get weekly access to your full TransUnion and Equifax credit reports, and VantageScore Credit Scores. VantageScore is largely regarded as the best “educational” credit score that you can get becauase it was developed jointly by all three credit bureaus, and it is routinely used for making credit determinations, although less often than the official FICO score. The VantageScore is also regarded as the closest approximation of your actual FICO score.

*
p<>{color:#000;}. After that, signup for a free Experian credit report and official FICO 8 score from CreditScore.com. Although CreditScore.com won’t provide you with ongoing access and updates to your Experian report the way Credit Karma does with your Equifax and TransUnion reports, you will still be able to get a free FICO score and full access to your Experian report. When combined with your Credit Karma membership, you will get all of the following for free:

#
p<>{color:#000;}. Full Experian, TransUnion and Equifax Credit Reports

#
p<>{color:#000;}. Weekly updates to your TransUnion and Equifax credit reports

#
p<>{color:#000;}. Your FICO 8 Credit Score from Experian

#
p<>{color:#000;}. Weekly updated VantageScore Credit Scores from Equifax and TransUnion

Pretty awesome deal considering it’s all FREE!

[]Thank You

Well that’s it! I hope this book has provided you with some useful information.

Thank you very much for reading. I sincerely hope it has helped you to learn several different methods which you can use to obtain your free FICO score, as well as how to obtain your estimated credit scores and credit reports for free from several other sources without worrying about getting scammed.

If you liked this book and found it helpful, will you please leave me a review on Amazon? I read each and every review I receive and take them to heart so that I may continually update the content and style of the information I present to help as many people as I can, in the best way I possibly can.

Thanks again for reading, and good luck!

kentgreenfields.com

[] Additional Titles by Kent Greenfields

[]Bad Credit Kryptonite

Kent Greenfields was a victim of identity theft and bad credit decisions. After years of running around like a chicken with his head cut off trying to get negative information removed from his credit reports, he stumbled upon the most powerful weapon ever discovered in the history of credit repair. He decided to show what he had learned to numerous friends and family members, and then he wrote down the exact process he had used so that others could unlock the door to great credit and all of the wonderful opportunities it provides. The method he discovered is so powerful that once he and his family used it they were able to remove every single negative account on their credit reports in less than 60 days – EVEN THE ONES THAT WERE THEIRS!

Bad Credit Kryptonite relies on an often misquoted, misunderstood and not very well known section of federal consumer protection law that makes it possible for every consumer to remove ALL negative entries from their credit reports. It doesn’t matter if they are valid or not. Don’t waste your money on credit repair companies or expensive “dispute letters” that won’t work. You’ve just discovered the most powerful credit repair tactic available and it works every time. Learn the incredibly straight forward and fast process that lawyers are charging thousands for. Our easy to read step-by-step guide will teach you the exact steps to take to remove all negative items from your credit reports, even if they are actually yours!

This method works for all negative items on your credit reports including late payments, foreclosures, bankruptcies, auto repossessions, collections, judgments and more.

*
p<>{color:#000;}. WORD FORMATTED DISPUTE LETTERS INCLUDED (no need to mindlessly type letters out of the book for hours).

*
p<>{color:#000;}. 100% Legal & Proven Method.

*
p<>{color:#000;}. FICO Scores have seen massive improvement of OVER 200 points in some cases.

*
p<>{color:#000;}. Our easy process will walk you through what you need to do without all the technical jargon and legalese of most other credit repair books.

*
p<>{color:#000;}. Learn exactly what to do and how to do it in the right order with our step by step instructions and dispute letters.

*
p<>{color:#000;}. Exact steps and addresses for mailing your dispute letters to the CRA’s.

Learn how to roll right over their stall tactics and get amazing results. This process is very easy to follow, and has been designed from the ground up to allow any consumer, regardless of their knowledge of credit reporting or consumer law, to achieve life-changing results. This is the exact secret method that the creditors and CRA’s DO NOT WANT YOU TO KNOW ABOUT! Extremely powerful.

Bad Credit Kryptonite will help you fix your credit and get you the life you deserve. THIS BOOK WILL SAVE YOU THOUSANDS! You can stop looking, you’ve found what you were looking for – THIS IS IT! BETTER CREDIT = A BETTER LIFE.

The rich rules over the poor, And the borrower becomes the lender’s slave.” – Proverbs 22:7

Break out from under the shackles of bad credit. Seize this opportunity, take the first step, and be ready for life’s greatest adventures by downloading right now and starting immediately.

Your FICO Score will thank you.

[] [+ High Performance Credit Repair+]

Others pay attorneys and credit repair companies thousands to use this same information to remove negative accounts from their credit reports. Learn the easy, step-by-step process that you can start using TODAY to remove ALL negative entries off of your credit report for free and start getting approved for credit. Download this simple resource and get going. Your FICO score will thank you!

[] [+ Easy Credit Repair Letters+]

Repairing your credit doesn’t have to be intimidating or expensive. The truth is, it can be as easy as dropping a letter into a mailbox.

Download this simple solution right now to get over 70 premium dispute letters you can use right now to repair your credit. The quick start guide will show you the exact steps to take to remove ALL negative items from your credit report for free.


Free Credit Score: How to Get Your Real FICO Credit Score for FREE

Free Credit Score: How to Get Your Real FICO Credit Score for FREE - Would you like to know how and where you can go to receive a free credit score? We've taken the time to compile a thorough list of the places and tactics to utilize to obtain a free credit score. If you've ever wondered what your score is, or have been debating whether or not you wanted to go out and pay a company to find out - here's your answer. Find out the 8 ways to get your free credit score and save yourself the time, money, worry and hassle of going out and signing up for a "$1 trial" just to be billed $40 in 24 hours. If you need to know your credit score, or are just curious to find out where you stand, download this great book and you can get your free credit score (and credit reports) in no time.

  • Author: David Neman
  • Published: 2016-05-17 04:20:10
  • Words: 4028
Free Credit Score: How to Get Your Real FICO Credit Score for FREE Free Credit Score: How to Get Your Real FICO Credit Score for FREE