Stay on Top of your Finances with Free Credit Score

It’s always a good idea to know exactly what kind of state your finances are in, especially if you’re about to apply for a loan or mortgage or submit an application to rent a new apartment. There are many things which can affect your credit score, from making regular payments on your credit card balance to whether or not you’re on the electoral roll at your current address. Applying online for a free credit score is the best way to find out what your credit score is and see if it can be improved. Take a few moments to read our handy guide to free credit scores and see whether this product could help you!

How to Get a Free Credit Score

 

There are a number of websites where you can apply for a free credit score, as well as websites which are happy to charge you to view your own score. You shouldn’t have to pay to view your own credit score, so make sure you head for the websites offering this service free of charge.

 

What Information is Available?

 

Your credit score is an overall numerical score based on the risk you present to lenders. Most free credit score services won’t go into a vast amount of detail about how your score has been reached, so if you want to view your detailed credit report, you may need to pay extra for this service. You’ll need to input some basic information before your credit score is displayed, such as your name, date of birth and details of your current and previous addresses, to allow the service to identify you and create your free credit score.

 

What are the Benefits?

 

A free credit score is a great way to double check on your credit score before applying for a financial product such as a loan, overdraft or mortgage. Each time you apply for a financial product, a ‘footprint’ is left on your credit score which shows that you applied and what the outcome of your application was.

Obviously, it’s detrimental to your credit score if you have hundreds of loan and credit card applications with different lenders showing up on your credit report. This is why checking your credit score online before applying is a good idea, as it will give you an indication of whether your application is likely to be accepted, as well as influencing your decision as to which lender to use! The lower your credit score is the most likely is to get a loan with higher interest rate or your application for a loan not to be approved at all. This is because the lenders find you risky for not paying or delaying payments of your previous debts.

A free credit score is a useful tool which can help to keep you informed about your current credit status before making any major financial decisions.

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The information on this page is designed to help you understand more and make more informed choices. We do not receive any commissions, instead we are funded from companies that we advertise on our website.