It is very important to learn your credit score, to arrange credit card or credit usage. Because getting more credits or raising the credit card limit depends on your credit score. Lenders will look at your credit score to see if you’re fulfilling your responsibility when paying. Thus, they give credit to people who have low credit risk.
The most important thing to know before you learn your credit score is that you don’t have a single credit score and that your credit scores vary. Your credit score depends on the information that credit reference agencies have obtained about you and therefore may vary. Or, each credit reference agency has its own credit score system, which may differentiate your credit score. In addition, there are different types of credit score. The most common types of credit score; FICO score and VartageScore. Lenders generally take into account the FICO score. Before you can receive your credit score, you must decide what type of credit score you want to learn.
How can you get my credit score?
There are many ways to get your credit score. Some of these are free. The methods used to obtain credit score are as follows;
- Credit reference agencies (Experian,TransUnion and Equifax);
You can also obtain your credit score from each credit reference agency. However, each credit reference agency has a different scoring system. A good credit score for Experian is between 881 and 999. A good credit score for Equifax is between 420 and 700. A good credit score for TransUnion is between 604 and 710. All of 3 credit reference agency provides the use of free trial version. However, if you want to receive your credit score on a regular basis, you must subscribe and this is a fee. With this method you can get both FICO score and VartageScore.
- Credit Card;
Some credit card companies list the credit score on their credit statements. They usually provide this service to customers who make regular credit card payments. You should therefore check your card statements. These credit score are FICO score.
- Loan provider companies;
Some credit provider companies provide free information about your credit score when lending. This type of score can be FICO score or VartageScore. Because each company provides loans according to its own rules.
- Credit Carma, Credit Sesame and Qizzle;
All 3 services are completely free of charge. But they are different. Credit Carma and Quizzle use the VartageScore scoring system, but Credit Sesame serves with the FICO scoring system. Credit Carma receives the data it uses to calculate your credit score from TransUnion and Equifax. Credit Sesame receives the data it uses to calculate your credit score from Experian. Qizzle gets the data it uses to calculate your credit score from Equifax.
- Web Sites;
You can find out your credit score on some websites. Web sites usually use the VartageScore scoring system to perform free calculations. myFICO.com calculates your credit score based on the FICO scoring system. However, you must subscribe to this site and this is chargeable.