Where To Get Credit Score?

You are probably familiar with baseball scores, football scores and basketball scores. You might also know about hockey scores and soccer scores.

But do you know about your credit score and where to get your credit score?

Why you need to know your credit score

In addition to knowing about sports scores you might know you have a credit score. What you might not know is how important it can be. The reason why having a good credit score is important is because if you apply for any type of credit–for a credit card, an auto loan or personal loan–the first thing your potential lender will do is check your credit score. If you have a good score, you’ll get the credit you requested. If not, you may be out of luck.

Three different reports

You may also know that you have a credit report somewhere. In fact, you have three. This is because there are three credit reporting bureaus, Experian®, Equifax® and TransUnion® and each one has its own credit report or credit file on you. Each also has its own formula for generating your credit score, although all three should be very similar plus or minus a couple of points.

Where to get your credit score?

There are more than a half dozen websites that promise to show you your credit score free. This is basically true in at least two cases-www.creditkarma.com and www.creditblank.com. You can get credit scores through these two sites but they will not be your true FICO score, as they will be based on different formulas.

Your critical credit score is what’s called your FICO. There is only one way to get that score and it’s through the website www.myfico.com. It will cost you $19.95.

While all three credit bureaus has its own formula for generating your credit score they are based on your FICO score. This means that if you know your FICO score you basically know your credit score, regardless of the which credit reporting agency provided it.

What makes up your credit score?

Your FICO score is calculated from a lot of the different data in your credit report. The actual formula or algorithm that’s used to create your score is a closely guarded secret. However, in general, it’s based 35% on your payment history, 30% on the amount of money you owe, 15% on the length of your credit history, 10% on the new credit you’ve requested and 10% on the types of credit you use

You don’t need a score to know you’re having a problem with debt

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