Free Credit ScoreA credit score is a numerical representation of how likely you are to pay your debts in a timely manner. It is calculated using a mathematical formula based on the statistical analysis of your credit report. The three digit credit score determines your credit worthiness, i.e. your ability to repay your loan. It is therefore an important statistic determining your financial future.Credit scores are used by lenders like banks and credit card companies to anticipate the risk involved in lending to a certain customer. These lenders use the credit score to determine the rate at which they should lend you money. Credit Score DifferencesIn the United States, there are three main credit bureaus that assign credit scores based on your credit report – Equifax, TransUnion and Experian. All of these credit bureaus issue credit scores to you according to individual evaluation methods. Since these bureaus work independently they may each score you differently. The score from each bureau will be determined by the credit report information (your credit history) stored in their database to calculate the scores.Credit Score CalculationThe most common method used for calculating credit scores is the FICO credit score, developed by Fair Isaac's Corporation. Having been pioneered by the corporation, the method is named after it. Lender's typically look at all 3 credit scores to make sure they have your most accurate credit information.You may use this site to get all 3 free credit reports, all 3 free credit scores, and all the facts about your credit report, credit report score, and credit monitoring! Free Credit Report and Free ScoresGet the most complete personal credit information available! You'll know where your freecreditscore stands no matter which bureau your lender uses to check your credit history! Your credit report and free score information from each main credit bureau (Equifax, Experian, & TransUnion) will be combined into one easy-to-read report. Get your All 3 FREE Credit Scores and All 3 FREE Credit Reports Online! A free credit report and free credit score from each credit bureau is included with your free credit monitoring trial membership. |