Knowing your credit score is very essential, especially when you want to get financing from a bank and other lenders. A credit score is simply a three-digit number that tells the lenders how capable you are in paying the loan. The report is prepared by credit scoring companies like Fair Isaac, which get the data from credit bureaus like Equifax and TransUnion. The credit bureaus, on the other hand get the data of all your transactions from banks and other financial organizations you use. In this article, we will look at the most popular free credit report websites.
How Free Credit Score Sites Work
In the past, it used to cost money to check your credit scores. To date, some organizations charge money for users to check their credit scores. The idea is very simple. As a user, you will visit the websites or download the app, check your score, and the company will give you recommendations on the best lenders. If you take a loan, the lender will give the company a commission.
Best Free Credit Report Companies
Credit Karma is one of the best-known free credit score company. Established in 2007, the company has become very popular with users. As a result, it has raised more than $860 million from venture firms and is valued at more than $4 billion. The company uses the model described above. As a user, you just log-into the site, fill a few details, and get your score. The company will then recommend the best companies or credit cards for you. The company also makes money from the lenders and credit card companies that list on its website. Get your free credit report here.
Wallet Hub is another alternative to Credit Karma. The company was established in 2013 and offers free credit reports, daily credit scores and reports, detailed credit monitoring, and credit improvements. The company makes money when its users take loans from the companies it recommends. It also makes money from the lenders that advertise on its platform. Get your free credit report from Wallet Hub here.
Credit Sesame is a fast-growing company that was started in 2010. The company offers credit and loan management services to millions of customers. To check the credit score, all you need to do is to go to its platform and select the free credit score tab. After entering your email address, you will be asked to answer a few questions. The company will then give you a free credit report and recommend the best places you can get financing. In addition, the company provides other services like ID theft protection and credit monitoring. Get your free Sesame credit score here.
Bankrate was established in 1993 to offer customers with relevant personal finance information. The company was acquired by Red Ventures for $1.24 billion in 2017. Previously, the company was listed on the New York Stocks Exchange (NYSE). Its services include mortgages, banking, credit cards, loans, and investing. In addition, the site offers free credit reports and credit monitoring reports. As with the previous companies, Bankrate makes money from commissions from the lenders. It also makes money from advertisements on its platforms. Get your free report here.
Free Credit Score
Free Credit Score is a company that is owned by Experian, which is one of the big three credit bureaus in the country. To check the score, all you need to do is to visit the website, enter your details, and the score will be delivered within seconds. You can use the Free Credit Score website here.
Nerd Wallet is one of the best-known personal finance platforms in the country. The company was established in 2009 and has raised more than $105 million. This gives it a valuation of more than a billion dollars. The company offers multiple services like free credit scores, editorials, and credit card recommendations. To use the platform, all you need is to visit the website, fill your information, and receive your report. The company will make money when you use a service provided by its partners. Get your free credit score here.
Getting a credit report is very essential for you to achieve financial freedom. Checking the reports regularly will help you see whether you are making progress on your finances. It also helps you be protected, especially now that there are so many reports on cybercrime and identity theft. Using some of these free credit reports companies will help you be safe.