I have had to build my credit score three times in my lifetime. A few mistakes are allowed before it threatens your score and to mend it all
Your Credit Score
Where to get a Free Credit Score
Where to Go To get Your Credit Score FREE!
Chances are if you are interested in your credit score. You are interested in making a big purchase such as a car or a house and you want to see what kind of credit you have. Rest assured it will not cost you a penny because of ad endorsed websites who offer your credit score for free while trying to persuade you to buy their services or apply for a loan or credit card on their website. .
No credit card needed no trail offer to apply for. Websites to where you can get your credit score for free.
Credit Karma offers you two credit scores one with TransUnion and the other with Equifax..
Lending Tree offers a free credit score based on your report from TransUnion. You can get it updated through them once a month.
Credit. com offers a free credit score based on your Experian credit report. It is updated once a month
Credit Sesame Get your free credit score and credit report analysis
Quizzle Get free credit score no credit card required. Also they offer ways to help you build your credit for free.
The Perfect Score
What is a Highest Credit Score You Can get
What is the highest credit score you can get? 850 is the highest score you can get. If your score is over 680 your in great shape for when applying for credit. You will also be given more then likely the lowest interest rate on loans and credit cards.
Be Careful Though: A high credit score raises your credit not your income.
640-680 is fair. Consumers with this score may have pay higher interest rates.
640 and under is considered a low score.
Consumers who have a score that is under 550 might want to seek advice from a debt adviser.
Credit Report Reflects Your Credit Score
What is on a Credit Report
Your credit score is determined by information that is on your credit report. Your credit report shows your past and present credit history. If you pay your debt on time or are overdue on payments.
A lender wants to loan to someone who has a good credit history.Someone who shows that they will not be a high risk to give a loan to.
The things on your credit report that will hurt your credit score are:
-If you show a history of being late on payments.
-If you have a payment that has been due over 90 days or longer.
-If in the last 6 months or year you have had a debt be turned over to a collection agency.
-Your address has changed in the last 5 years.
-You have applied for credit more then once in the past year.
-If your debt exceeds your income over 28%.
-If in the last ten years you have filed bankruptcy.
What Makes a Credit Score
35% of your credit score depends on your payment history. Your payment history is scored if you pay your debts on time or are behind if you have foreclosure , lawsuits or have filed bankruptcy.
30% of your credit score is based on amounts you owe. Having debt on credit accounts will not hurt your credit score. If they are not owed to the max amount. Consumers who use all their credit line that is available are considered over extended and this will hurt their credit score.
15% of your credit score is your credit history. How long you have had accounts and when is the last time you used them. So it is always good to keep accounts open that you have had sometime. Don’t close the account after its paid off. If you want to avoid more debt then just use the credit card when purchasing something at the store where it was issued and then pay it off when you get the bill. This will look good for you credit score that you have the account and will also keep you from more debt.
10% of your credit is what kind of credit. Is it new credit old credit. If you have open several credit accounts in a shirt period of time. It will hurt your score because it represents a greater risk -especially for people who don’t have a long credit history.
So over all to get a good credit score. Pay your debts on time avoid bankruptcy if you can it stays on your credit score for ten years unlike most debt which is erased after seven years. Don’t max out your credit line. Keep old accounts open even after paying them off. And don’t open allot of new credit accounts.
Get Your Credit Report
How to find what is on your credit report for free.
There is three credit agency’s that have your credit report Equifax, Experian, and Transunion. By law, you are allowed to see these reports. You can gain access to these reports online for free at annual credit report.com.
A debt can not be shown on your credit report for more then 7 years. Your credit report will tell when a debt was put on the report and when it will be removed. It will let you know of a debt put on there by mistake from a creditor. It will let you know if someone else is using your identity for credit. It is important to know what is on your credit report.
Ways to Raise Your Credit Score
The to do's for a higher credit score
- Pay off any outstanding debt you might have in collection. You can sometimes make a payment plan or a deal where you pay less by making one payment.
- Make sure you are not behind on any payments. If you are get caught up and don't skip a payment again.
- Pay all debts which exceed over 35% of the credit available
- If you don't have credit get credit. If a bank will not loan you money. You might want to get a cosigner or a secured credit card.
- Even if you pay off the debt on a credit card do not close the account unless they charge you a yearly fee instead leave it opened but unused.
If you do all the above and continued within 6 months to a year you will see significant improvement. However you credit score is always changing and will show immediate improvement.
The Good The Bad The Ulgy
Get Your Free Credit Score
- Better Credit for All - Get Started for Free at Credit.com
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© 2015 Mary Guimont
Mary Guimont (author) from Pacific Northwest on September 07, 2016:
Thank you. And I will check out your youtube video and pass it pm to others. I think allot of people are unaware that they can find their credit score for free and also there credit report/
Free Credit Score from New York on July 25, 2016:
Very nice Articles... I love it.. By the way, I just made one video base on free credit score in youtube. https://www.youtube.com/watch?v=Ty2Mki8KJRI