How To Check Your Credit Score?
In 2020, our financial lives revolve around our credit scores. Want to buy a car? Better have good credit! Want to lease a house? Good credit is a must. Applying for a new credit card? You’d best hope your credit score is high enough.
Every major financial decision, every major monetary transaction, every purchase is influenced by this fickle, mysterious number. But what exactly is a credit score? And how can you find out what your credit score is? Let’s look at what a credit score is, and how you can check yours!
What exactly is a credit score?
In short, a credit score is a complete history of a person’s financial history. If a person has ever been late on a car payment, it will show up on their credit score. If they’ve ever defaulted on a loan, their credit score will show it. If they have credit card debt, it will affect the magic number. Essentially every time you’ve ever borrowed money in any way, shape or form, how you handle that responsibility will affect your credit score.
How can you check your credit score?
There are a variety of available options when it comes to checking your credit score. There are three credit bureaus, Equifax, Experian, and TransUnion. You can get one free report from each of these bureaus per year, and additional reports if you believe you may have been a victim of credit fraud or have been rejected on the basis of poor credit.
The most important caveat with this method of checking your credit score is that it does not actually provide you with a credit score. There a variety of methods to check this, such as using a proprietary tool provided by your credit card company, but the easiest and most reliable method is to use a service like Credit Karma or Credit Sesame. These services utilize the newer VantageScore 3.0 scoring model, which provides heightened accuracy and precision. Best of all, these services are free!
If you want to learn more about how credit scoring works, and how you can improve your credit score, you can find helpful information on The Official Real Estate Agent Directory®.
Popular Real Estate Glossary Terms
Land surveying measurement that is 16.5 feet in length, or 5 1/2 yards. A perch is also called a rod or a pole. Today the term perch is seldom used. It is found in old deeds, surveys, and ...
When we’re talking about debt service, we refer to the amount of cash required to cover the debt’s repayment of both the interest and the principal for a certain period of time. ...
Protection over and above that of an insurance policy or warranty. ...
Same as term financial institutions and markets: Institutions acting as intermediaries between suppliers and users of money. The financial markets are where those wanting funds are matched ...
The clause in a deed beginning with the words " to have and to hold" limiting or defining the ownership nature of the estate in the property granted by the deed. Declares the type of ...
Early American style 1 story house with a steep gable roof covered with shingles. The bedrooms are on the first floor, but the attic is often finished and made into additional bedrooms. ...
The operating expenses definition is the sum of costs or expenses a company deals to operate as a business. The term operating expenses is used in any business field and is commonly ...
Counter action by a defendant against a plaintiff. It is an independent action and just a denial of plaintiff's action. ...
In the mining and petroleum industries, it is a portion of the profit secured from the extracted minerals or oil reserves from the property paid to the property owner. For example, a ...
Have a question or comment?
We're here to help.