How to check your credit score

In a nutshell

Checking your credit score is important for managing your financial health and protecting your identity.

• Your credit report and score are good indicators of how you manage your money overall, so keeping tabs on it is a good idea.
• Your credit score is not only used when you’re trying to take out a loan, but it can also be used by prospective employers, insurers and even your cell phone provider.
• By law you have free access once a year to your credit report, but there are other inexpensive or free ways to check it more often.

Consider your options

Nowadays there are plenty of options for checking your credit report, some of which also offer your credit score. You can access your credit report at no charge in some cases, but there may be an additional charge for services like seeing your score or using other credit-related services.

Here are a few ways to get your credit report and score for free:

• Free annual credit report: By federal law, you can get a free copy of your credit report each year from each credit bureau (Experian, Equifax, TransUnion). You can sign up on the Annual Credit Report website or request your reports via mail with this form.
• Go directly to the credit bureaus: You can request access to your credit report directly from Experian, Equifax, or TransUnion by creating an online account with each bureau.
• Use a credit score service: Popular options include myFico, CreditKarma, or Credit Sesame.
• Talk to a nonprofit counselor: These organizations can give you a free copy of your credit report. Start by searching for reputable credit counseling services accredited by the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association of America (FCAA).
• Use your bank, credit card issuers, or credit score service: Enroll or opt-in to your credit card issuer or bank’s credit score service.
• Used a paid service like myFICO or Experian IdentityWorks: FICO and Experian have subscription services that will not only allow you to check your credit score but also monitor your identity online and enroll in identity theft insurance.

Brand	Fees
	$0 - $24.99
	$0 - $39.95

Understand your different credit scores

Before you set out to access your credit report and score, it’s important to understand what kind of score you’re being presented with. You might find a discrepancy between the score you get from a service like CreditKarma and the one your mortgage lender uses.

According to the Consumer Financial Protection Bureau (CFPB): “Some credit score sources provide an ‘educational’ credit score,” which is different from the score that a lender would use to evaluate your creditworthiness. These scores are helpful in showing you the broad outlines of your credit health, but they can vary from some people’s actual scores quite a bit. Be sure to find out what kind of score it is you’re seeing when you get it.

FICO Scores

Another thing to keep in mind is that there are different types of scoring models used to determine credit scores. The most common models are FICO Scores and VantageScore.

Developed by the Fair Isaac Corporation, FICO Scores are the most commonly used credit scoring models in the United States. Lenders use FICO Scores to assess an individual's credit risk and make decisions about lending money or extending credit.

FICO Scores range from 300 to 850; a higher score indicates lower credit risk. These scores are calculated based on five key components: payment history, amounts owed, length of credit history, new credit, and credit mix.

VantageScore

Developed by the three major credit bureaus (Experian, TransUnion, and Equifax), VantageScore is a newer model ranging from 300 to 850. It’s designed to provide more consistent scoring across the bureaus. While it includes similar factors as FICO, it weighs these factors differently.

VantageScore emphasizes the most recent 24 months of a consumer's credit history and can generate scores for people with shorter credit histories more effectively than the FICO model.

Each scoring model interprets and weighs your credit information slightly differently, which is why there may be variations in your credit score. Also within these models are industry-specific scores (for example for auto loans or credit cards) designed to predict the risk for specific types of credit. Understanding the different models and how they influence your scores can help you prepare for financial situations where your credit will be evaluated.

Access your credit score

Once you’ve reviewed your options for checking your credit, and you understand which score you’d like to access, it’s time to access your credit score. No matter which service you choose, you’ll likely have to go through a process to verify your identity first.

Here’s some information to have handy when you’re signing up for your credit report or credit score service:

• Your full name.
• Your home address.
• Your Social Security number.
• Answers to some security questions to verify your identity.

Once you’ve created an account, keep your login credentials handy for continued access and protect your personal private information.

Consider additional credit-related services

Though additional credit-related services are not necessary, they can be helpful for those who are trying to improve their credit rating. In some cases, these additional services are free, and in others, you may have to pay for them. Whether in anticipation of buying a home or opening a new credit account, a better credit score can help secure better terms for loans and other financial products.

Credit monitoring and alerts

These platforms monitor changes to your credit report and send alerts about new inquiries, accounts opened in your name, or significant changes to your credit score. This proactive monitoring can help detect identity theft, too.

Personalized credit recommendations

Your credit scoring service may offer tailored financial product recommendations — such as credit cards or loans — to fit your credit profile and financial situation. These personalized recommendations can help you make informed decisions about the financial products you choose and may even positively impact your credit scores.

Credit score simulators

Credit score simulations can show you how certain financial decisions such as paying off debt or opening a new credit line may impact your credit score. This tool helps you better understand the consequences of your financial actions before making them.

Fraud alerts

You can place a fraud alert on your credit reports; this will notify potential creditors to verify your identity before extending credit in your name. This can be useful if you believe you are at risk of identity theft or if your personal information has been compromised.

Credit locks

Credit locks allow you to lock your credit reports, which completely prevents new creditors from accessing your credit report. This tool can be activated or deactivated instantly through a mobile app or website and offers a faster and more flexible response than a credit freeze. While they are similar to credit freezes, some credit bureaus charge a monthly fee for credit locks.

Identity theft protection services

Identity theft protection services monitor your credit and alert you about any new activity, including any new credit inquiries and accounts in your name. They typically offer Social Security number tracing, scanning court records, and real-time suspicious activity alerts. Some plans also offer insurance to cover certain out-of-pocket expenses related to identity theft.

The AP Buyline roundup

Thankfully, it’s much easier to access your credit report and score these days. It’s important to take advantage of this accessibility by checking your credit profile frequently. Staying up-to-date on your credit score can help you manage your personal finances.

Frequently asked questions (FAQs)

Is a free credit score check legit?

Yes, free credit score checks are legitimate when accessed through reputable sources, such as well-known financial institutions or online platforms. They often use soft inquiries and don't impact your credit score.

Is it OK to check your credit score?

Yes, you can check your credit score without it impacting your score. Unless the inquiry is initiated by a lender who requires a hard credit inquiry, your score should not be negatively affected.

How can I safely check my credit score for free?

To safely check your credit score for free, use reputable services. Credit checks offered by your bank, your credit card company, credit score services, or trusted online platforms are the safest. Ensure a secure connection (those with “https” in the URL) and read privacy policies to protect your personal information.