Credit scores are an objectionable topic. They’ll be important when you are looking for credit cards, mortgages, or other types of loans. Pay your credit card bill off quickly? You are likely to be responsible with credit, therefore have a higher credit score. With multiple scores taking place through various agencies like Equifax or FICO, you never know what exactly your credit score will be at a given time.
I was shopping for cars recently and was nearly ready to purchase. Then the dreaded “Financial Manager” stage showed me a credit score of 100 points lower than it showed on my Credit Karma app. I was turned off by the process and walked out of the dealership. The next day I walked into another store and the very next day they gave me an offer with the exact same score on my Credit Karma account. Both reports were from the same agency: Equifax
How to Obtain a Free Credit Score?
It’s worth mentioning that a good credit score will help you finance many things including housing and finding out your credit score is getting easier with several apps allowing you to find out without too much of a hassle quickly. One major thing you have to give out?
Your Social Security Number is Needed
A social security number is required for so many things when it comes to financing when you apply for a credit card, mortgage loan, medical bills, car payments, and many many more. With news of a social security leak, many people are afraid of placing their numbers on untrusted areas.
Most banks and financial institutions are now increasing their workforce in their fraud departments to not only detect potential cases but to protect their clients as well! This should not deter you from finding out your credit score or applying to secured financial products that will end up benefitting you and your family.
Best Free Credit Score Apps
You may be aware that certain credit cards include free credit scoring. CreditWise is an extension of the Capital One company. So with each Credit Card, you get from Capital One, you can have this service included automatically.
If you don’t have a Capital One Credit Card…no problem! You can use the link below to sign up for the same service, FREE. You’ll get a Transunion or Experian Credit report included.
- Two scoring options (Transunion or Experian)
- Included with Capital One Credit Cards
- Get a notification if your credit score is being used
- Available on all devices
- Somewhat new service
- Not as pretty as Credit Karma
Looking for ways to analyze your credit score without any frills or other information? Credit Sesame has nailed the interface on what your score will look like at your present financial state. The first credit score is always free when you register for it, and it’s super easy to sign up as well.
If you are looking to find out your score and score alone, there may not be a better option, including the competitor Credit Karma. You will NOT need a Credit Card to sign up, which is nice!
- Available on All Devices
- No need to pay, everything is Free
- Advice catered to increase score is present
- Competitors have other features like Business scoring
- User friendliness is ranked last (in our opinion)
If you are interested in a Free Credit Score, Credit Sesame isn’t the only option out there, as Credit Karma also is able to give out the Free Credit Score with a sign-up. With any credit lookup, you may be wondering: Will this impact my credit score?
With Credit Karma, they promise NOT to hurt your credit score by checking out your score with them. A nice reassurance in a world where you never know what kind of information you are giving out! Like Credit Sesame you’ll never be asked for a Credit Card for the Free Score!
- Most used Free Credit Score app
- Available on all devices
- Free credit increase advice and monitoring available
- Find unclaimed money through a Free Database search!
- *New* Free Tax Filing
- Lots of options take away from what it’s meant for (Free Credit Score)
- No Business Scoring option
While the other two popular free credit score options, Credit Sesame and Karma, are terrific options, we’ve found the Nav App to be an exciting choice to attain free credit scores and other cool relative stuff including a chat with a personal finance consultant right within the dashboard area!
Nav breaks down your basic credit score (Experian) along with the option to add a business credit score as well. You know, if you have a business and need loans for additional inventory, mob payoffs, and expensive “write-off” vacations (JUST KIDDING).
We love the way Nav beautifully displays, in lamens terms, how a credit score is analyzed through their “Reports” area. You can see your credit history and if you’ve ever made a late payment or other relevant information that could better your score!
- Free Personal or Business
- Available on most devices
- Text with a Credit Professional
- Only one score included
Either way, you can find out your Free Credit Score right now through our Nav sign up button below!
Other Notes About Credit Scoring
So, What Is a Good Credit Score Exactly?
Credit scores range from 300 to 850. Many sources agree that the average is around 650 to 739. A score of more than 800 is deemed to be excellent. According to MyConsumers, just 8% of borrowers within this range will become seriously delinquent on loans. If you have a good score, you are less likely to become delinquent, and you will be more likely to be approved for credit and with better rates than someone with poor credit.
While this may seem straightforward, there are many different credit scores, including FICO and VantageScore credit scores and industry-specific scores such as those used by insurance companies.
Factors Affecting Your Credit Score
Information in your credit file is used to generate your credit score. Your credit score never considers where you live, your age, your salary or employment information, or information about your race, religion, sex, marital status, color, or national origin. While precise credit score models can vary, these five categories make up your credit score:
- Payment history (35% of your score)
- Credit utilization (30%)
- Length of credit history (15%)
- A mix of accounts (10%)
- New credit inquiries (10%)
Your payment history is the most critical factor. To get or maintain a good score, it’s important to make on-time payments on your credit cards and loans. The total debt and amounts you owe are also significant factors. Make it a goal to keep your overall credit utilization below 20% and never exceed 20% of your credit limits.