Credit Help

When you work in the auto sales industry, it’s second nature to become a credit expert to help your customers. And now we are here to help you.

Credit Help

When you work in the auto sales industry, it’s second nature to become a credit expert to help your customers. And now we are here to help you.

The Best Sites to Check Your Credit for Free

Check Your Credit Report At least Annually

 

Do you remember the last time you checked your credit report? Not your credit score, but your report. You should understand the difference between the two. According to the National Foundation for Credit Counseling (NFCC), “a credit report is a track record of a person’s past and present financial activity. It provides a snapshot of who the person is financially. A credit score is a numerical reflection of the information in a person’s credit report.
Lenders use credit scores to (a) evaluate risk, and (b) influence lending decisions. It is a representation of your credit report reduced to a single number between 300 and 850. Created by the Fair Isaac Corporation (FICO), this consumer score is still used by most creditors and lenders.
Per the Fair and Accurate Credit Transactions Act (2003), all Americans have access to the three national credit bureaus (Experian, Equifax, and TransUnion) for one free full credit report once every 12 months. You also can get a free full credit report, if you’ve been a victim (fraud or identity theft) or have been denied credit for free. Just visit annualcreditreport.com, the site sponsored by the three major credit bureaus, to get your free annual credit report.

Why Should You Take Advantage of the Free Annual Credit Report?

The three national credit bureaus receive so much digital data monthly they are beset with numerous errors in their individual’s credit reports. If you are lucky, the errors are in your favor. Unfortunately, many of these erroneous references drag down your credit rating.
However, there is an additional issue. Your “consumer” score is often different from your real FICO score. In some cases, your “consumer” score is many (up to 40 to 60) points higher than your FICO score. If most lenders and creditors used a consumer rating, there would not be a credit denial issue. But, since around 90 percent of lenders base their decisions on your true FICO score, you may endure an unwelcome surprise when you apply for credit.

The Best Free Credit Report Sites

Some sites, like Identity Guard® and Identity Force, require you to pay for your credit monitoring services but offer 30-day free trials so that you can get your free credit reports during the trial periods. After the free trial expiration, Identity Guard® will cost you between $10 to $25 per month for the service level you select.
Identity Force is quite like Identity Guard® but offers two distinct services UltraSecure ($13) and UltraSecure + Credit ($20) service levels. The UltraSecure level monitors your credit, while the costlier level, provides credit reports on demand.
The other best free credit report services are the following sources.

 

1. Credit Sesame,



Also, with TransUnion as a partner, this source also offers $50,000 identity-theft insurance, along with ID restoration assistance.

 

2. Debt.com,



You can get a free credit score and $1 credit report to work your way to better credit. This site offers credit card, student loan, IRS and state tax, bankruptcy, and personal financial management help, along with credit monitoring and identity theft protection.

 

3. My Free Score Now,

Offers a personal report with factors that affect your credit score, including seeing who is viewing your credit report with financial activity alerts. You can get unlimited updates for your score and credit report.

 

4. FreeScore360.

Offers a 14-day free trial for obtaining your three bureaus’ credit scores and up to $1M in identity theft insurance from affiliates of mega-insurance company A.I.G. This site offers members help to correct errors on their reports.
These are the best sources of free credit reports that you will find. You can be confident that checking your scores will not lower your credit score.

 

5. AnnualCreditReport.com,

The only official source of annual free credit reports per the Fair Credit Reporting Act (FCRA), from each of the national credit bureaus.

 

6. Credit Karma™,

Partnered with TransUnion, from which you’ll get alerts, this site offers numerous credit tools while being highly user-friendly.

 

7. Quizzle®,

With Equifax as its exclusive partner, along with some major lenders, like Quicken Loans, Quizzle offers users a full credit report every six months.

 

These are the best sources of free credit reports that you will find. You can be confident that checking your scores will not lower your credit score.

 

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