Where To Get A Free Credit Rating

What is a FICO Score

I think we’ve all heard about the importance of checking our credit report but few of us really stop to think about our overall credit rating.  The credit rating is the score or number rating that is assigned to each individual.

These scores range from about 300 to 850 and the higher your number is the better your credit is.  This rating makes it easier for potential creditors to determine if someone is credit worthy without going through the trouble of viewing the entire credit report.  For that reason it is extremely important that we all take time out of our lives to get a copy of our free credit rating.

Why Check Credit Rating?

Some of you might wonder why you should check your credit rating if you already have seen your credit report.  We all need to check out our credit ratings for the same reasons we need to check our credit report.  We as individuals need to know exactly what our potential lenders are seeing when we apply for a loan.

If we don’t have any idea what our credit rating is then we have no way of knowing how we are being judged.

Knowing if our credit rating is low or high gives an idea of what may or may not be happening behind the scenes and encourage us to do more to check on our credit report to hopefully raise our credit rating.  Also there are some companies out there that specify exactly what credit rating someone applying for credit with them has to have in order to be approved for credit.

Getting Your Credit Rating For Free

Getting your hands on a copy of your free credit rating is a process that is fairly similar to getting a copy of your free credit report.  All three major credit reporting agencies will let any consumer purchase a copy of their credit rating.

If you sign up for a credit monitoring service you can access your credit score for free.  These services will give you anywhere from two weeks to one month to decide if you want to use the service and let you cancel at any point with no charges or penalties.

There are also several lending companies that will give you a free credit rating prior to using their services along with a free credit score.  This might be given in return for applying for a loan with their company or signing up for an account with their services.

They do this to educate you about your own credit rating so that you know whether or not you are credit worthy enough to apply for a loan with their company.  This will save them from having to spend time and resources going through and reviewing credit applications that will ultimately be denied.

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