Finding Your Score Pt 2
If you want to know your actual credit score, you will usually have to purchase it. This can be done in a few ways.
You can get it from one of the three major credit reporting companies: Equifax, Experian, and TransUnion. The fee isn’t a huge one – usually around $15 or $20. However, if you’re serious about growing your credit score, it’s well worth the money to be financially responsible in the end.
You can also go to www.myfico.com and get your FICO score directly from them. The cost for this service is $29.95 initially and then you are billed on a monthly basis. They feature a FICO8 score which is not used in any lending decisions, but it is the one FICO wants you to know. If you dig a little deeper, you will see all the industry related FICO scores. All told FICO has 49 different algorithms. If you don’t wish to sign up for their monthly service, you can purchase your full FICO credit report for $59.95.
If you are applying for a mortgage, here’s a little good news for you. You can find out your credit score for free! The mortgage company will base their decision and interest rate on what your credit score number is, so just ask and they’ll tell you! This is a hard inquiry however, so don’t have it pulled too often this way.
FICO scores range between 300 and 850. Here’s what those scores mean:
- Over 750 – you have excellent credit and will be able obtain credit easily
- 720 or more – you still have very good credit and will be able to obtain credit easily
- 660 to 720 – this is an acceptable credit. You can still get loans, but you may pay a higher interest rate
- 620 to 660 – creditors are going to be uncertain about lending you money
- Less than 620 – you have poor credit history and will probably not be able to obtain credit on your own.
Knowing the above information makes it obvious that if you need or want to get credit for something, the higher your score is, the better your chances are to not only get credit but get it at a handsome interest rate. If you are in the 660 to 620 range, you may still get a loan, but the interest rate is likely to be higher.
That’s why it’s important to keep your credit good or establish good credit from the get go. That’s where we’ll start.
Finally we strongly suggest continually monitoring your credit score and report for changes.
Here is what you will get:
- Experian, Equifax and TransUnion Reports & Scores
- Daily Credit Monitoring & Alerts
- Credit Score Tracked Monthly
- Credit Report Can Be Refreshed Every 30 Days
- $1,000,000 Identity Theft Insurance
- Checking your credit score will not hurt your credit
Elevatemyscores.com have the following offices:
10101 Southwest Fwy
Houston, TX 77074
106 East Sixth Street
Austin TX 78701