The Tricky Facts on How to Get Credit Score
Getting your credit report is quite easy. With the help from legislations about free access to your credit information, you can simply request the credit bureau to send you one. There is no doubt that it is important to check your credit report. However, the real inquiry is not on how to get your report, but getting credit score. It is a lot trickier to determine your score and for the most part, only lenders and companies are able to access such information. So, given these scenarios, your goal is getting credit score and determine your credit worthiness.
As we have established a while ago, getting the report is so easy. You can use services set up by the FTC so that you can gain access to your credit scores. There are other services found online but one thing you have to be aware of is that most of these services require you to subscribe to a certain service and you end up paying on some, if not, all of them. Sadly, getting credit score is a lot trickier. In fact, there are no established services offered by FTC to get credit score. The algorithm used to determine the scores are still trade secrets. Not only that, different scoring variants have appeared in the last few years, making it more complicated to know how to get credit score that banks will recognize. For the most part, FICO scores are your best bets since majority of the consumers are aware of the FICO concept.
One way to get credit score is to use a credit score estimator. I know, this is a very simplistic tool to use and it might not be able to show you the calculation method. Is it a simple plus minus method? Do you begin with the base score and move up? It is possible that the estimators can predict your possible scores. Some people have attested that estimators offer scores that are quite close to the ones generated by the credit bureaus. How to get credit score? You might want to try an estimator to find out.
You can opt to pay for your FICO scores if you want an exact number. Services like myFICO are known to offer several options for you to get a credit score. You can choose to get the scores from your best reports or you could opt to look at the worst reports. The best strategy though is to ask for the score on the least appealing report. Why? Credit companies are not interested on how high your scores are. They are interested on the juicy details, and these details could help them generate more money. Thus, check if you have a bad report and see how you fair on the scores.
You want to know how to get credit score? All you have to do is sign up here and you will receive scores from the top three credit bureaus.