Good credit score is something which everyone wants. There is credit score estimator and credit score calculator which will help you to calculate the amount which will be required by you after retirement. The credit score estimator will estimate the amount which you will need to invest for your savings, you just need to enter different values which you earn and check the amount required for your future. There are many ways as to how to check credit score. There are lot of differences between a credit report and a credit score. A credit score is one which is generated with a number based on your credit reports. The credit reports are the information regarding your credit details and transactions which you made along with the date.There are lots of ways to check your credit score which are as follows.
How to check credit score?
One can check the credit score for free through websites. Buy beware of the websites which are not genuine. The two ways through which you can check for the credit score absolutely free is as follows:
- Make a request at the credit reporting agencies for the copy of your credit report. This might take time to generate the report. But once you get the credit report, the information about your credit score will also be printed.
- The next is the fast, easy and convenient way to know about the score. You can search in online for a reputed service. The best is creditreport.com. One can sign up in it in order to have a free session of how it works. Once you sign up, you have to log in and then get your credit score as well as reports for free. You can take a print of all of them. If the trial period is over, then they will start charging for you every month.
You need to make sure that the website that you choose is genuine because there are lots of scams happening out there. Just don’t blindly give your personal data into the websites. There are intruders waiting for the personal information which you enter in them. They just hack the data and make a misuse with it.
Knowing the credit scores range is really very essential in applying loans because the banks that provide you with loans will look at your reports and score as to how consistent you are in paying bills on time, spending money etc. All these criteria are looked by them in detail to get an assurance that you will pay the loan back on time to them. Depending upon your score, you will be getting interest rates. If you have got good score, then banks will offer you with less interest rate. Before you apply for a loan, you need to calculate the score first with the help of a credit score calculator. The calculator shows you results with which you can decide either to take up a loan or to improve the score. There are many calculators in online to calculate your score. The score depends on the data that you enter into it and following are some factors to note:
- 35%: This involves the total accounts which you are being paying on and also the negative records of your previous payments. It also takes up the items that were unpaid and the delay time in making payments.
- 30%: This denotes your present debts and involves your current money which you have got from various lenders. It also takes into account the consistency of time in paying back the debts.
- 15%: This denotes your credit history. It tracks all the financial activities and it takes into account the total time length from when you opened an account. You will get good score only if you have a long credit history.