How to Check Your Credit
Your credit score impacts your ability to get car loans, secure a mortgage and more. Keep reading to learn about the various ways to check your credit.
What Is a Good Credit Score?
Your credit score is based on a number of factors. These factors all make up a percentage of your score, reveals Wells Fargo:
- Your payment history accounts for about 35 percent of your credit score
- Your amounts owed account for 30 percent
- Your length of credit history accounts for 15 percent
- The types of credit in use accounts for 10 percent
- Your account inquiries account for 10 percent.
Your credit score can range between 300 to 850. A score above 700 is considered good, according to Experian, and a score above 800 is considered excellent.
Can You Get a Credit Report for Free?
One of the easiest ways to check your credit is to visit annualcreditreport.com. The site makes it very simple to not only access your credit report but to do it for free. You’ll have to provide various forms of personal information, including your Social Security number and address. Thanks to the Fair Credit Reporting Act, everyone can get at least one free credit report each year. More importantly, you can get one free report from each of the major credit bureaus.
Check With Your Credit Card Company
Another simple way to check your credit report is by checking with your credit card company. There are many credit card companies that provide free access to your credit report as often as you like. They encourage financial responsibility, and they know part of being financially responsible is to stay on top of your credit.
Use a Credit Monitoring Service
Not only is checking your credit score important because it allows you to stay on top of your finances, it helps you to keep yourself safe from identity theft. You can sign up for a credit monitoring service, some of which provide you with access to your credit score on a weekly basis. One such service provider is Credit Karma.
Keeping a Good Credit Score
If you ever notice something on your credit report that doesn’t match up with your finances, it’s important to check with the alleged creditor. If you’re ever a victim of identity theft, checking your credit report is one of the easiest ways to identify yourself as a victim. Making smart financial choices and checking your credit regularly are the best ways to keep a good credit score.