Hundreds of online sites promote their free credit reports, but according to Free Credit Reports From All 3 Bureaus, the free reports won’t reveal the most important part of the report – the credit score. Every consumer within the U.S. can request a free copy of their report from TransUnion, Equifax, and Experian once a year, but consumers need to understand what creditors use to measure creditworthiness.
Lenders use credit scores to determine whether to approve a request for a loan or credit card. The credit score also determines the interest rates extended on loans and credit cards – higher scores lead to better rates. While Discover, Barclaycard and other lenders join online services in promoting free scores to consumers, the credit score may not be exactly the same score lenders see when then run an inquiry.
The new free scores are not all the same since card issuers and sites use different formulas and scoring ranges to determine consumers’ creditworthiness. Some services rely on FICO and others may use VantageScore or pull the score from a single bureau. To further complicate the matter, services use different ranges in scoring; a good score in one service may be average or poor in another.
Jimmy Martinez found a way to get truly free credit scores that were a reflection of what lenders used. “I used three different free online providers to get an idea of my score before applying for a car loan. What I saw astounded me. When I compared those scores to my FICO score, there was a huge difference. For instance, my score from CreditKarma was 135 points higher than the other scores, so I felt I was starting from square one. I did some research and found Free Credit Report From All 3 Bureaus. There I found referrals to services that gave me an accurate score – or as close as it could get.”
Free Credit Report From All 3 Bureaus published a Credit Score Comparison chart to help consumers identify the best service at a glance. The chart identifies ratings, trial period and the bureaus used to calculate the score. Informative reviews also simplify the process of choosing an online free credit score service. Visit Free Credit Reports From All 3 Bureaus online to find out how to get a truly free credit score.
Company Name: Free Credit Reports From All 3 Bureaus
Contact Person: James Edward
Country: United States