Best ways to find your credit score | How a credit check affects your score | Monitoring your credit | Summary Show
You can check your credit score for free in several different ways without hurting it. The most common methods are through an annual free report, online credit monitoring services, and your credit card provider. Two of the three major credit bureaus — Equifax and Experian — make the process simple through their online credit monitoring services. With their basic free service levels, you can check the VantageScore or FICO credit scores they generate for you. Happily, checking your own score doesn’t hurt it, regardless of which method you choose. In fact, it’s wise to stay on top of your credit health. FICO vs. VantageScore
Best ways to get a free credit score without hurting itCredit bureaus categorize credit score requests (known as "credit inquiries" or "credit pulls") as hard or soft. Hard inquiries often impact your score, but soft pulls usually have no effect. Fortunately, checking your own score is considered a soft inquiry, so it doesn’t hurt it. 1. Get free credit reports directly from the credit bureausEquifax, Experian, and TransUnion must provide a free copy of your credit report once every 12 months upon request (thanks to the Fair Credit Reporting Act). You may be eligible for additional free credit reports if:
These states offer additional free credit reports every 12 months: You must provide your name, address, Social Security number, and date of birth to verify your identity. You can request your eligible free or reduced-cost credit reports online:
Credit report vs. credit scoreA credit report describes all your credit activity, while your credit score is like a grade identifying how creditworthy you are. » MORE: What's the difference between a credit report and a credit score? You can get free credit scores directly from Equifax and Experian. However, their scores vary, and some are more accurate than others. Equifax Core Credit gives you updated reports and VantageScore credit scores every 31 days. It also presents the pros and cons of the factors affecting your credit score. The credit report summary includes revolving accounts, mortgage accounts, installment accounts, consumer statements, personal information, inquiries, public records, and collections (if applicable). Some additional features let you file credit disputes and freeze your credit account. Alternatively, you can opt for a paid upgrade to receive daily credit score updates and credit report monitoring. Like Equifax, Experian CreditWorks has monthly credit scores and reports, supports credit account freezes and disputes, and supplies valuable information about your score. But Experian’s free service uses the FICO scoring model, which is what most lenders use for credit decisions. Experian will ask if you want to upgrade every time you log in.
Experian Boost also gives users credit for a positive payment history for their mobile phone, utilities, and streaming services. The potential credit score boost only impacts your Experian score. Consumers with specific credit cards, like from US Bank, can use TransUnion CreditView at no cost. Otherwise, TransUnion's credit monitoring service is only offered as a paid service, at $24.95 per month. CreditView sends you monthly updates of your VantageScore 3.0 credit score and history, a score simulator, and a credit overview with the sponsored free version. It’s a basic interface with limited functions. But the service does email you credit alerts when new activity is reported to the bureau, such as a hard pull. 2. Use a free credit score app or websiteChecking your score using a credit monitoring service won’t hurt it because it counts as a soft inquiry. But it still provides helpful information about your creditworthiness, helping you monitor where you fall on the scale of poor to excellent credit. Unfortunately, most free credit monitoring websites use the VantageScore model, which isn't what most potential lenders use (FICO). Also, while the basic services are free, the companies often advertise their paid service heavily.
3. Check if your bank or credit card provider already offers free credit score monitoringMany banks, credit unions, and credit cards offer free credit monitoring services. Some use the VantageScore model while others provide a FICO score. Some popular options:
When does a credit check hurt your credit score?Each hard inquiry (which happens when lenders perform credit checks) can hurt your credit score by a few points. That's because it usually means you're applying for a loan or credit card — i.e., planning to take on more debt. Hard inquiries stay on your report for about two years. But the impact is immediate and usually only lasts a year. Credit bureaus usually group car loans and mortgages applications together over a finite period (typically 14–45 days), treating them as one hard inquiry during that time frame. This lets you shop around for the best rates and terms without hurting your credit too severely. Why it’s a good idea to monitor your creditEven if you don’t use credit cards, you’ll likely need credit if you want to make a substantial purchase. A good credit score is necessary to qualify for a home or auto loan. And the better your score, the better your terms and interest rate will be. It literally pays to stay on top of your credit. When buying a home, the interest rate you qualify for can make an expensive difference. Even a half percentage point can mean paying tens of thousands more overall. For example, say you finance a $350,000 fixed rate mortgage at 5% over 30 years. Your monthly payment will be $1,879, and you'll pay $326,395 in interest over the life of the loan. But a 5.5% rate bumps your payments to $1,987 and your total interest to $365,414. Summary
Related linksCan check credit score without lowering?Does a credit check lower your score? Checking your credit score on your own, which is a soft credit check or inquiry, doesn't hurt your credit score. But when a creditor or lender runs a credit check, that's often a hard credit check, which could affect your credit score.
What is the safest way to check your credit?How to access your report. You can request a free copy of your credit report from each of three major credit reporting agencies – Equifax®, Experian®, and TransUnion® – once each year at AnnualCreditReport.com or call toll-free 1-877-322-8228.
Which credit report is most accurate?Although Experian is the largest credit bureau in the U.S., TransUnion and Equifax are widely considered to be just as accurate and important. When it comes to credit scores, however, there is a clear winner: FICO® Score is used in 90% of lending decisions.
Is it OK to check your credit score?In general, you can check your own credit score without harming it. Checking your credit score is an important part of monitoring your financial health. This is especially true if you're in the market for a new loan or other credit account.
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How to check credit report without hurting your credit
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