How can I check my credit score?
Your credit score indicates your creditworthiness. It’s a number that tells creditors the level of risk you present as a borrower.
Many businesses, including insurance companies, phone companies, credit cards, and loan and mortgage providers, review your credit score when determining whether they should issue you a policy, loan, or service and what rates and terms you’re eligible for.
The higher your number, the less risky lenders consider you—meaning you have a better chance of receiving approval. Your credit score is a key factor in determining your overall financial health. That’s why it’s crucial that you understand how to check your credit score and keep tabs on any changes to it.
But where do you start? Thankfully, checking your credit score isn’t as challenging as it used to be. Read on to learn convenient ways to keep up with your score.
Use free credit score services
One popular method for checking your score is to use free credit score services. These platforms allow you to check your credit score for free.
No matter which service you choose, follow the steps on the website to receive your free credit score. Be sure to read the fine print before entering your credit card or payment information.
You can also get a free credit report once a year from the three credit report agencies—Equifax, Experian, and TransUnion. A credit report offers a more detailed overview of your credit history and includes your:
- Bill payment history
- Loans
- Current debt
- Bankruptcy history
- Lawsuit records
Note that your credit report won’t typically include your credit score.
Your credit card or loan statement
When you apply for a credit card or loan, the lender pulls your credit information to determine whether they’ll approve you. These entities will provide you with your credit score, or you can ask them to send you a copy.
Many credit card companies’ online platforms and apps also offer the option to view your credit score at any time. Look for an option that reads something like “View My Credit Score” within the platform or app’s navigation.
Monitoring your credit score via a source you’re already working with can save you time and money. But if you don’t have a credit card or aren’t planning to apply for a credit card, loan, or other new line of credit soon, it may be best to choose a different method for checking your credit score.
Purchase your scores
In addition to the free services, you can also purchase a score from a credit score service. For example, you can buy your FICO® credit score straight from the credit scoring service FICO.
Some people choose this option because they like what a particular report offers or because a free method isn’t currently available to them. Many free services offer a variety of valuable information, so do your research before determining which option is best for you.
Understanding your credit score
While monitoring, checking, and understanding your credit score may seem intimidating or overwhelming, it doesn’t have to be. Yes, this number is essential for your financial future. But, with a bit of education and the creation of sound financial habits, anyone can improve their credit.
How often should you check your credit score?
There’s no need to limit how often you check your credit score. Checking your own credit is considered a soft inquiry, not a hard inquiry. Soft inquiries don’t impact your credit score, so regularly checking your score won’t hurt it.
You’ll also want to review your credit report periodically, which lists your payment history, open lines of credit, and outstanding debt.
Reviewing your report can help spot cases of fraud or outstanding debt or credit you’ve forgotten about. A credit report is a type of credit reference required when borrowing money from a service or lender. So, if you’re planning on buying a house and will need a loan, look at your credit report to ensure you’re in good standing.
What does your credit score mean?
Both major credit scoring services—FICO and VantageScore—use a 300-to-850 scale for their scoring. Here’s how their scoring models break down:
FICO
Excellent credit: 800-850
Very good credit: 740-799
Good credit: 670-739
Fair credit: 580-669
Poor credit: 300-579
VantageScore
Superprime credit: 781-850
Prime credit: 661-780
Near prime credit: 601-660
Subprime credit: 300-600
You can have multiple versions of each credit score because not all credit bureaus and credit reporting entities use the same scoring systems.
For example, several websites and apps, like Credit Karma, provide free scores. The scoring model of one bank, lender, or credit bureau may differ slightly from that of another. If you check your credit score through a couple of different entities, you’re likely to receive somewhat differing numbers.
Steps to take if you find errors in your credit report
If you’re in the process of repairing your credit, it’s important to maintain a clean and accurate credit report. To do that, you should monitor your report regularly and fix any errors that appear. Fixing any errors in your report requires these eight steps:
- Get your free credit score and reports from Credit Karma.
- Review reports carefully for anything that looks suspicious or inaccurate.
- Gather supporting documents proving these errors.
- File disputes with relevant credit bureaus online, by mail, or by phone.
- Contact the information provider (e.g., bank or credit card company) about the error.
- Wait for the investigation results (typically 30 days).
- Review the outcome and request a free updated credit report if changes were made.
- If unresolved, consider adding a statement of dispute, filing a Consumer Financial Protection Bureau (CFPB) complaint, or seeking legal advice.
Understanding identity and credit fraud
Pulling your credit score won’t give you direct information regarding fraudulent activity, but it could be a clue that fraudulent activity has occurred. If your credit score looks suspicious, pull your credit report or sign up for credit monitoring.
Financial planning and credit scores
Knowing how to check your credit score gives you instant access to your financial standing. Regularly checking your credit score and identifying areas for improvement is key to keeping your finances strong.
It can be challenging to manage your credit score properly without the proper resources and advice. That’s where Intuit and Credit Karma come in.
Check your credit score easily to take control of your financial future. Open an account and put tools like credit monitoring, budgeting advice, and automated personal credit card recommendations to work for you.
If you want to learn more about your personal finances overall and how your credit score fits in, check out Intuit for Education, our free financial literacy curriculum. Its goal is to help you gain confidence in your own personal finances.