Credit Score And Why It’s Important! **How To Get Your Credit Score For Free**

Even wonder why you pay so much for certain things when others pay a lot less.

A lot of factors can come into play when you purchase things, best pricing etc, but interest rates are usually a big equation when buying big ticket items.

Could it be their interest rate is better than yours? Why do they have a better interest rate?

Probably because they have a better credit score.

When I started looking around for how I could get my hands on this years ago, I realized it was more guarded than Fort Knox.

You can request your credit score from the companies that keep them. In Canada there are a few.  Equifax and Trans-Union are the two big ones I know about. I have requested a report from both at different times which required filling out paperwork and then waiting in the mail to get a descriptive analysis of what was going on in my credit world.

One good reason to do this sporadically is to see if there are some old accounts still open and also to see if something has been opened that you didn’t open or fraudulent activities.

In the world of identity theft, it’s a good way to keep track of things. So once a year, you should just give it a close look and see if all is well. And you would think that checking only one company would be sufficient, however, it is not always the case. Some report to Trans Union while other report to Equifax, so it would be good to check both if you are so inclined to do so for they might not match.

They do offer plans where you can buy it to see it (too pricey for me it you ask me), but it’s not necessary. It’s just not as convenient to fill out documents to get them for free, but I am and always will be an advocate for free. I repeat, you do not need to pay to get your report.

But the reports don’t generally give you your score. Like a big secret they hide it until you go to a financial institution and try to borrow money, and those guys will sometimes give you your score or just say you have so so or good or excellent credit.

There is now a company that offers to give you your credit score every 3 months. It pulls it from Equifax and lets you know your score. Here is why it’s good for you to know this.

First of all, if you want a loan and know your credit score and it happens to be good, you are in a better position to negotiate your interest rate. Right?

And if there is any indication of something fishy going on, and your credit rating drops when it’s updated every 3 months, you will see the difference and can inquire and check if anything weird is up.

It’s also a good way to help you improve your credit by cleaning it up and getting encouraged by seeing your numbers go up.

I have no affiliations to this company and of course they offer loans on their site if you are approved ( I am not advocating this, just the free credit score), but I have done mine and my husband’s and we score in the 800’s. He is better than I am at this time as he is closer to 900 than I am, which only tells me that once we rewrite whatever is left of the mortgage, his name will be first if mine does not match his by then, so that our interest rate is a better one.

I know that the remaining credit line we have to pay is in my name and that could be why mine is lower. I have more revolving credit than he does.

I have also closed some inactive credit cards in the last week because having too much available credit can also be damaging to your credit score.

So in 3 months my score should improve some more.

I’m not going to say that you need to obsess with these things if you credit is good. But to use it as a tool when needed and to keep track that things are going in the right direction.

If you look on my Facebook page, I have posted a video about this company. It’s called Borrowell and as I have said they offer Free Credit Scores. Takes 3 minutes and you get it.

Please take note that they do ask personal information as anyone doing a credit check would so you are taking the responsibility of someone having your personal info. You do this at your own risk. You should always check out reviews and any information you can find on these companies before you do anything. It’s always a good idea and prudent. I’ve attached my Facebook page where I posted their video and an article on the company.

Borrowell Video On My Facebook Page

Article On Borrowell


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