What is credit rating?

Getting a credit report for free of cost is possible nowadays. This service will be very helpful for those who have serious credit score issues like bad credit and identity theft. Besides them, whenever you apply for a car loan, mortgage loan or credit card first thing your lender will suppose to check is your credit score.

Rather than applying for the loan without knowing whether you are eligible to obtain that can be avoided by getting analyzing your credit report for free.  Remember before you know the door of credit agencies it is good to check your credit score.

How to get a credit report

You can hear so many advertisements stating they will provide you credit report at free of cost. There are many scammers are waiting to steal your personal information. So knowing how to get a free credit report from trust worthy sources is an important one.

If you want to have free credit report you can get it from the AnnualCreditReport.com. It is an authorized website.

Other options are you can sign up with the official websites of major credit bureaus TransUnion, Experian and Equifax. Here you can get a report yearly once at free of cost. You can only get a credit report for free. If you want to get your credit score, however you need to pay some amount.

Even though all US citizens are entitled to receive a free credit report every year, they won’t send you automatically without doing anything.

You should request them to receive the free copy. Here are the 3 ways which says you How to get a credit report.

  • As we mentioned already you can get your annual free credit report by sign up with the annualcreditreport.com.
  • You can place your request through writing a mail to the credit bureaus regarding the free annual report service.
  • You can go to the official websites of credit bureaus and get an access to your credit report. Here you can print the reports or save it as a PDF file for future reference.

What is credit rating?

Credit score is a 3 digit number ranges from 300 to 850. Based on the credit score your credit rating will be set to excellent, good, fair and bad.

Why you need to check the credit score frequently?

Regardless of whether you are going to apply for a loan or some other thing it is suggested to check the credit score at least once in a year. Your credit score will not be the same as you checked in some 2 to 3 years ago. There are so many factors which can affect your credit score even if you have a good spending habit, there are chances for your credit score to get a sudden or gradual decrease due to identity theft or miss uses. These issues may drag you to somewhere else if it is not checked on time.

So keep your eye on your credit score and avoid the unnecessary stress. In the past decades getting the credit report is not free and even if you pay you will get only after 6 to 7 business days. But today you can have access to your credit report online instantly.

If you are not clear on what is credit rating you can check the post on Credit score ratings.

Base of your credit score ratings is your credit report. Your credit report is nothing but a summary of your payment history, associated credit accounts, loan information, balances and your payment behavior. Your credit score will be good until you get too many red flag entries on your report. Be regular with your monthly payment so that you can have a good credit score without any hassle.