How you may be Able to Get Your Credit Score for Free?

Answer 1

While consumers have always been able to obtain a free credit report each year from all three widely used credit bureaus at annualcreditreport.com, there's been a piece of the puzzle that consumers have had to pay for. In order to obtain the actual credit score (which is used by employers, banks, or anyone looking to judge the worth of your credit history), consumers would have to pay for the privelege. That fact, however, may soon change, as a recent amendment passed by the Senate will allow consumers to get a score for free.

There is one important catch, of course. In order for consumers to obtain their credit score without charge they'll need to be directly tied to an adverse event. These will include being denied a loan, rejected for a job, or even charged a higher interest rate on their credit card because of their credit history.

As lending standards have continued to tighten and the state of the economy makes credit less freely available, consumers should take a number of steps to ensure their their credit scores are up to snuff. Many of these steps are actually fairly straightforward and don't take any additional effort. Paying your bills on time, for example, makes up for one third of your FICO credit score. You should also keep existing debts well under their credit limits. Your score will improve if you keep your dpending within 10% of your credit limit. So if you have a $10,000 limit on your outstanding credit card, try not to push it above $1,000. For a more detailed look at how your credit score breaks down, be sure to check out this post from JD at Get Rich Slowly.

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