Need to know your annual credit score? The consumer reporting agencies – Equifax, Experian and TransUnion, provide you with a free copy of your credit report, at your request, once every 12 months.
You can obtain your annual credit score for free, from each of the three agencies along with the annual credit report by signing up with special programs being offered by these agencies. After signing up for these programs, you are given a free credit report along with a no-cost credit score just for signing up during a no-cost 30 day trial period. The free annual credit score lets you know if you are a good or bad creditor.
One must be careful while signing up for one of these programs in order to obtain his/her free credit score. There are some companies, which advertise the same services as the main consumer reporting agencies offer, if you are tempted to use one of these services, you can get stuck in a situation wherein, your personal information can be misused.
The score gives you the opportunity to see the differences in credit scoring as well as, to check through each credit report for erroneous items. Annual credit score ranges from 300 to 850. A score below 580 is considered bad whereas, a score above 720 is considered good.
When one applies for loans, the loan provider always checks your credit score and then only lends you the grants. Hence, the credit score is also important from the lender’s point of view.
In case if you are unemployed, on welfare or you believe your credit report contains inaccurate and unverified information, then the agency will give you your free annual credit score within 60 days.
The annual credit score prevents you from being a bad credit history holder and also, keeps you updated of your credit scores.
Summary:
with the help of the annual credit score, you can keep a check on your credit scores. It can help you improve your credit history as it lets you know if your credit score is low or high.
