Your credit score is important. It is the parameter or gauge used in measuring your creditworthiness or performance. Your credit history details your financial involvements as it relates to loans and credits. A bad credit score can affect you greatly; the good news is that you can improve your credit score by keeping tabs on your credit report. This is why you need to know how to get a free credit report.
In the past, you have to pay some cash in order to get your credit report but this is no longer necessary. You can get a free credit report without these hurdles. Free credit reports can be obtained from various sources. You can get a free credit report from the three main bureaus via annualcreditreport.com, you can also get if from your state or from some free websites.
Free Credit Reports Versus Credit Score
Your free credit report may or may not contain your credit score; this depends entirely on where and how you obtain it. If you obtain your free credit report from annualcreditreport.com, it will not contain your credit score. Annualcreditreport.com requires you to pay some fees to get your credit score but you can access a free credit report from the three major bureaus through the platform.
Your Credit Score
You can get a free credit report and score from several free website such as Quizzle, Credit Karma, Credit Sesame and so forth. If you obtain the free credit report from any of these platforms, your report will contain your score.
Getting free credit report does not lower your score. However, it is important to understand the inquiries that apply to getting a credit report. There are two major forms of inquiries that apply to credit scores, namely hard and soft inquiries.
When you apply for credit for the purpose of loan, mortgage and a credit card, the lender or bank will usually pull your credit information. This is known as hard inquiry. A hard inquiry generally reduces your credit score. However, the effect of hard inquiry on the credit score could wane in two years.
On the other hand, a soft inquiry occurs when you check the credit card on your own. This is the case involved when you get a free credit report and score. Since a free credit report and score involve soft inquiry, it does not reduce your credit score or have an effect on the credit score.
In other words, you can request for a free credit report and the credit score as often as possible and you don’t need to worry about any effect on your score. As a matter of fact, requesting free credit report will help you to keep tabs on your credit history. This is one process you should seriously consider if you want to improve your credit history as often as possible. You can take advantage of the free credit websites such as Quizzle and Credit Karma to check credit report and scores for free.