Free Credit Score - Why Do I Need to Know It?


Free Credit Score is a must-have these days. Since everyone is looking at your credit score, shouldn't you know it? Let's assume you are applying for a mortgage. When a lender pulls your credit report, there are 3 Bureaus reporting 3 different scores. The Bureaus never all report the same scores. Lenders take the middle score that is the risk-based credit score they use.


Experian: 720

TransUnion: 710

Equifax: 734

Middle Score: 720

720 is the score that the banks will use. Some employers have a credit score requirement to calculate their investment in you. This is actually taking place in the hiring process these days. Everything is based on "Risk." If you have a history of credit issues, they might feel you would be a good candidate to call in all the time. Maybe you are a candidate that might be late, based on your credit rating. A credit report is a nice little insight into one's responsibility. Do you want them to know your credit score, or maybe before you apply for that job, you get your free credit score report and work on any loose ends you may have.

Here are some top reasons you need to know your Free Credit Score.

1. Trying to lower interest rates on credit cards

2. Refinancing your car into a better interest rate.

3. Refinancing your mortgage

4. Applying for a better-paying job.

5. Applying for a lease on a home.

6. Getting ready to get married, do you want your soon-to-be wife or husband to find out you have bad credit?

Your Free Credit Score is no longer a secret. I would take the time to learn what most don't know. Because if you don't they will find out. Nothing is more humiliating when a creditor, landlord, soon-to-be mate, dealership, or evening dream job says NO. I recently talked to a borrower I am helping get a mortgage, this particular person works for the city, and the city pulled her credit and told her she had to fix her credit to maintain employment with them.

I am not sure how more convincing one could be to get your free credit score report and stay on top of what is being reported about you. Maybe you have been paying off collections, and you need to know if they have updated your report. Whatever the case, make sure you are an educated consumer. If you are not, you are definitely paying more than you should.