Couple of ways to check your credit files

So what are the facts about free credit score programs? For starters, your credit bureau files can be seen for free once an year from the three credit agencies. That’s the law. But many credit experts recommend that you see your credit files at least once every 6 months. What to do? To obtain your scores more than once, you’ll have to pay a fee to each of the 3 credit bureaus. Not to mention is the lengthy time and trouble it took working through each of their application process. But there is actually a method that you can use to easily check your reports without going through all that headache. You can get it for free as well. It’s by applying through the various free 3 credit report services out there. These are actually credit monitoring programs that provide a free trial and allows you to check your credit files for free. Just make sure to cancel during the free trial period or you’ll be charged for the membership. Free trial periods vary from service to service, so be sure to take note of that as well.

3 credit files are much better than just one

There’s credit file services where you can obtain your information from one credit bureau. Some offers allow you to obtain your credit files from all three credit agencies. The three agencies are TransUnion, Equifax, and Experian. One fact you need to remember is that records contained in one credit bureau file may not sync with what’s on the other reports. Certain data on your Equifax, TransUnion, Experian credit file may be omitted on the others for example. Or we find cetain mistakes in one file that’s not seen in the others. Many creditors may choose to obtain one or all of your credit files. So it’s a wise idea to utilize a three credit scores program where you can obtain all 3 of your credit files.

Don’t leave out your FICO score

Another thing you need to keep in mind is the importance of checking your FICO score. A FICO report is not the same as your normal credit scores. It uses a different set of rules for coming up with your FICO score. Most creditors utilize your FICO score to judge whether you get approved for a loan. Therefore it may be most wise to view your FICO report before applying for a personal loan. Unfortunately you have to pay a fee to obtain your FICO score. But there’s always some special offers out there. Once again check the various features of these free 3 credit reports offers. There’s a very select few offers that do offer a free FICO score. And as mentioned earlier, be sure to cancel your free trial during the free trial period, or you’ll be charged for the membership.

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Filed under: Personal Finance

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