Know your credit score, and what it means Your credit score might be the Show FAQsChecking your credit score for free is easy with Mint. Just follow these simple steps:
Different credit scoring models calculate credit scores based on a variety of factors. Mint utilizes the VantageScore model, which measures credit on a scale ranging from 300 to 850. Your VantageScore is determined by six different factors: payment history, age and types of credit, credit utilization, total balances and debt, recent credit inquiries, and available credit. There’s no single way to define a good credit score or bad credit score. However, VantageScore does provide guidance on the quality of VantageScore 3.0 score ranges, grading them on a scale of A to F:
No. When you check your credit score for free with Mint, you are performing what is called a soft credit check. This credit inquiry won’t impact your credit, no matter how frequently you view your credit score. We use robust security measures to safeguard your personal information. Mint stores your login username and passwords in a separate database and utilizes software encryption for enhanced protection. With Mint, you can perform a free credit check online as many times as you like without impacting your credit score. Mint offers daily credit monitoring, designed to help you keep an eye on your financial health. You’ll be notified when there are any changes to your personal information or new credit inquiries. Sign up for Mint today From budgets and bills to free credit score and more, Learn more about security Download our free mobile appAvailable for iOS and Android. As a consumer, you have the right to see your credit report without having to pay for it. But, while it’s not hard to find a website promising a free credit score, it can be a challenge to find a website that gives you a truly free credit score without asking for your credit card number. If you want to see your credit report before you actually have a credit card, this can be a catch-22. You shouldn’t have to give up your credit card number for something that’s supposed to be free—and, the good news is, you don't have to. There are a few ways you can get a free credit score without entering your credit card number. Credit Scores With a CatchMany sites advertising free credit scores have a gimmick where they lure you in with promises of a free score. But, to get that score, they require you to sign up for a trial subscription to a credit monitoring service. The catch is that you’re charged for the subscription if you don’t cancel within a certain amount of time, usually seven days. NoteIf you want regular access to your score, many sites require that you pay a monthly service fee after a free trial period. Sites With Free Credit ScoresIn reality, there are quite a few sites that offer free credit scores with no credit card or paid subscription. Here are just a few:
Required Credit Score DisclosureUnder the Fair Credit Reporting Act, you're entitled to one free annual credit report from each of the three major credit bureaus. All you have to do is request a report via annualcreditreport.com. This law, unfortunately, doesn’t give consumers access to their credit scores, which aren't actually included on credit reports. However, banks, lenders, and credit card companies are required to provide you with a free credit score any time they deny your application, provide you with less than favorable terms, or raise your rates because of your credit. NoteMortgage lenders also must disclose your credit score when they check your credit for a loan application. Unfortunately, there are times when you won’t get this free credit score, even if you’re denied. For example, banks don’t have to send the credit score disclosure when they use an in-house credit score, and insurance companies aren’t required to disclose the credit-based score used to assign your insurance premium. If you're denied credit or insurance, though, it doesn't hurt to ask for your score. Not a FICO ScoreWith the exception of the Discover Credit Scorecard, the drawback to free credit scores is that the scores likely won’t be a FICO score, the score that’s most often used by lenders. Credit Karma, Credit Wise, and Credit Sesame all give you a credit bureau’s version of your credit score, i.e a FAKO score. These scores may vary from one another and typically differ from your FICO score. You may get a free FICO score with a credit score disclosure, but that’s only if the bank used a FICO score in making its decision. Otherwise, you’ll get another score, but it will be the actual score the bank used, rather than an educational score. |