I. Introduction
Having a good credit score is crucial for many aspects of life, from getting approved for a loan to renting an apartment or even landing a job. With 2021 being a good year to check credit score for free, it’s important to know how to do it. In this article, we’ll cover everything you need to know to check your credit score for free, including what to look for in credit score reports, five simple ways to check it, and a comprehensive list of free credit score checkers.
II. How to Check Your Credit Score for Free in 2021: A Complete Guide
Your credit score is a number between 300 and 850 that’s based on several factors, such as your payment history, debt-to-credit ratio, and length of credit history. Lenders use this number to determine your creditworthiness and the interest rate you’ll receive if you’re approved for a loan or credit card. Checking your credit score regularly is important to make sure it’s accurate and to spot any fraudulent activity.
To check your credit score for free in 2021, follow these steps:
- Choose a credit score provider: You can check your credit score for free through credit monitoring services, credit card companies, credit unions, government agencies, and other providers.
- Create an account: Once you’ve selected a provider, you’ll need to create an account by providing some basic information, such as your name, address, and Social Security number.
- Verify your identity: The provider will ask you a series of questions to verify your identity, such as previous addresses or loan payments.
- View your credit score: Once you’ve verified your identity, you’ll be able to view your credit score and credit report for free.
When reviewing your credit score and report, look for any errors or inaccuracies that could be affecting your score. This might include missed payments that you actually made or accounts that aren’t yours. You can dispute these errors with the credit bureaus to have them removed from your report and improve your score.
III. 5 Simple Ways to Check Your Credit Score for Free
Here are five different ways to check your credit score for free:
1. AnnualCreditReport.com
The only place to get your credit report for free once a year from each of the three credit bureaus is AnnualCreditReport.com. You won’t get a free credit score, but you’ll be able to review your credit report to check for any errors that could be impacting your score.
2. Credit monitoring services
Credit monitoring services provide free credit scores and reports from one or more of the credit bureaus. Some popular options include Credit Karma and Credit Sesame. These services also monitor your credit report for changes and alert you to potential fraud.
3. Credit card companies
Some credit card companies offer free credit scores to their customers, such as Discover, Capital One, and Chase. You can check your score through your online account or mobile app.
4. Credit unions
Check to see if your credit union offers free credit scores to members. Many credit unions partner with credit score providers to offer this service.
5. Government agencies
The Consumer Financial Protection Bureau (CFPB) offers a free credit score through its website, along with tips on how to improve your score.
IV. Don’t Pay for Your Credit Score: How to Check It for Free
Some companies offer to provide your credit score for a fee, but you can avoid this by using the many free options available. Keep in mind that the free credit scores you receive may not be the exact same as the ones your lenders use to base their decisions on. Paid options may offer more detailed reports, such as explanations on why your score is the way it is and customized recommendations for how to improve your score.
V. The Ultimate List of Free Credit Score Checkers
Here is a comprehensive list of free credit score checkers:
- AnnualCreditReport.com: Offers a free credit report once a year from each of the three credit bureaus
- Credit Karma: Provides free credit scores and reports from TransUnion and Equifax
- Credit Sesame: Offers free credit scores and reports from TransUnion
- Discover: Provides free FICO credit scores to customers, updated every 30 days
- Chase: Offers free credit scores and reports from TransUnion through its Credit Journey program
- The Consumer Financial Protection Bureau: Offers a free credit score and tips on how to improve it
Keep in mind that some credit score checkers may only provide one of the three credit scores from the different credit bureaus. It’s important to check your credit report from all three bureaus to ensure everything on it is accurate.
VI. Your Complete Guide to Checking Your Credit Score for Free
To recap, there are many different ways to check your credit score for free in 2021, including credit monitoring services, credit card companies, credit unions, government agencies, and even the free credit report you receive once a year from AnnualCreditReport.com. When reviewing your credit score and report, look for errors or inaccuracies that could be impacting your score and dispute them to have them removed. Additionally, here are some tips to help you improve your credit score:
- Pay your bills on time
- Keep your credit utilization low
- Don’t close old credit accounts
- Limit new credit applications
- Monitor your credit report regularly
If you’re having trouble improving your credit score, consider working with a financial advisor or credit counselor to develop a plan.
VII. How to Check Your Credit Score for Free: Tips from Experts and Consumers
We spoke with financial experts and consumers who have experience checking their credit score for free to gather some additional tips:
- It’s important to understand that checking your credit score has no impact on it. You can check it as often as you’d like without it affecting your score.
- Consider setting up alerts with your credit monitoring service to stay on top of any changes to your score or report.
- Don’t fall for scams that promise to improve your credit score overnight. Improving your score takes time and effort.
- Make sure to dispute any errors on your credit report with all three credit bureaus to ensure they’re removed from all reports.
- Don’t shy away from asking a lender why you were not approved for a loan or credit card. This can help you understand what you need to improve.
VIII. Conclusion
Checking your credit score regularly is important for maintaining good credit and ensuring accuracy. With many free options available, there’s no need to pay for your credit score. Use this guide to find the best free credit score checker for you and to know what to look for in your credit report. By staying on top of your credit score and taking steps to improve it, you’ll be well on your way to financial success.