Your credit score and credit report play a crucial role in your financial health.
It's important to regularly check your credit score and credit report to ensure they accurately reflect your financial history and take steps to improve them if needed.
Here's a comprehensive guide on how to check your credit score and credit report.
Your credit score is a three-digit number that represents your creditworthiness.
It's calculated based on your credit history, which includes information about your credit accounts, payment history, length of credit history, and recent credit inquiries.
Credit scores typically range from 300 to 850, with higher scores indicating better creditworthiness.
The most commonly used credit scoring models in the U.S. are FICO® Score and VantageScore®.
Your credit report is a detailed record of your credit history, including your credit accounts, payment history, credit utilization and credit inquiries.
Credit reports are maintained by three major credit bureaus in the U.S.: Equifax, Experian, and TransUnion.
How to Check Your Credit Score?
There are several ways to check your credit score:
Free Credit Score Websites: Many websites, such as Credit Karma, Credit Sesame, and WalletHub, offer free credit scores.
Credit Card Issuers: Some credit card issuers provide free credit scores to their customers as a perk.
Credit Bureaus: You can also obtain your credit score directly from the credit bureaus. However, they may charge a fee for this service.
FICO® Score Open Access Program: FICO® has a program that allows some lenders to provide you with free access to your FICO® Score.