TransUnion, Equifax and Experian are the three credit bureaus which record your credit activities from all your accounts. They prepare a credit report and based on this report, your credit score is calculated. Your credit report and credit score is accessed by banks and other lending agencies whenever you apply for a loan, credit card or a mortgage. Your credit score will help the lending company to decide whether you are eligible to get a loan, the amount which can be loaned to you and the rate of interest which should be charged from you.
You can also access your credit score online for free. Your credit report usually wont have the credit score and you have to ask for it separately. Each bureau will have some strings attached to get your credit free online score. The different bureaus have different credit score calculations and therefore your score might differ with each bureau. Credit free online score may be a trial to attract you to the service and you might need to pay in the future.
There are many benefits in knowing your credit free online score. Your score will tell you how lending companies are viewing your credit status and repayment activities. If you are going to need a loan or a mortgage you can take steps to improve your credit score if it is poor. To improve your score you must always pay your monthly installments on your credit cards and other loans on time. If possible it will better if you can repay more than the minimum monthly installment. You should also lower all your monthly credit spendings, and try not to use your store cards and credit cards as far as possible.
Credit free online score is also available with a service which will give you notifications whenever your credit report is updated and correspondingly your score would also have changed. So when you are trying to improve your credit score this service is very useful as you will know how you are progressing, and when you have reached a favourable score you will be able to approach your bank for the required loan or mortgage.
Credit free online score is easily accessible anytime and also all your information is conveyed to you over a secure website, which has a user name and password access, so that it is all kept private. With the credit free online score information you will have a better control over your finances and make the right decisions.