When was the last time that you checked your credit score? Do you know if your credit score is good or bad? In America, having good credit is just as important as having cash in the bank. Without good credit it can be very difficult for you to get approved to take out loans for cars and houses. In this article we are going to discuss some of the ways you can check your credit score for free, as well as some of the things you should be aware of in regards to credit scores.
What is a credit score?
A credit score is a numerical expression based on the analyzing of a person’s past credit history. This credit score is a good indicator on whether or not a borrower will be able to successfully repay their loans. Credit scores are important because it helps lenders determine if they will approve you or not for a loan. These scores are a significant factor when deciding your interest rates, the higher your score is the better the rate. Credit scores on the lower end of the spectrum range from around 300-669, medium from 670-749, and the higher end of the spectrum range from 750-850. It is important that you know your credit score at all times, especially if you want to get a loan in the near future.
Risks of free credit reports
It is important that you are very careful when it comes to obtaining your credit score, especially from random online sources. There are many scams on the internet who claim to offer you a free credit score report, but in reality, all they desire is to get your social security number information. You must be very careful if you decide to use an online website to check your credit score, if you take this route it is important that you do your research ahead of time to find a trusted source. Another thing that is important is to make sure to read the fine print on a website to verify that the credit score report is really free. Many of these websites may advertise “free” credit reports but in reality, they may try to charge you a monthly subscription fee. It might only be free for the first month. The last thing we would like to mention is that your “free” credit report may not be worth your loss of privacy. Some websites may offer free credit reports in exchange for your email address. This may lead to many advertisers trying to contact you through your email address.
Where can I check my credit score?
There are many ways that you can check your credit score for free. One of the most common ways is to check your credit score with your bank. Many banks now offer ways to check your credit score online through their websites. You can also check your credit score once a year for free using the website www.annualcreditreport.com.
Final Thoughts
We at The Weller Legal group wanted to share this topic with you so you can protect yourself from bad credit report websites. Credit is a huge part of a person’s financial life and your social security number is also very important, so you should not just share it freely with any random online website. We at The Weller Legal Group have over 20 years of experience in helping our clients with their bankruptcies and improving their credit scores. We have offices located all throughout Florida, including, Clearwater, Port Richey, and Lakeland. If you have any additional questions in regards to filing for a bankruptcy or working on improving your credit score in the near future feel free to give us a call today at 1-800-407-3328.
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