You can get a FICO® Score for free from Experian. You will also get the risk factors that are affecting your score, which will help you better understand what the score means and what you need to focus on to improve it.
Today, a number of credit card companies are also providing a FICO® Score for free with your monthly billing statement.
If you apply for credit and are declined, or don't get the best rate, federal law requires the lender to provide a disclosure notice that explains why your application was declined or why you didn't get the best rate. The disclosure notice also has to include a credit score used by the lender.
Once you get your score, you should pay careful attention to the risk factors provided. Risk factors are important because they describe what elements of your credit history most affected the credit score at the time it was calculated.
By addressing those risk factors over time you can improve on your credit scores.
Check out the scope to hear answers to all the questions asked:
Do you have questions about credit?
Join our live video chat every Tuesday and Thursday at 2:30 p.m. ET on Periscope. Rod Griffin, Director of Public
Education at Experian, is available to answer your questions live.
Scoped on: 11/10/2016
Want to instantly increase your credit score? Experian Boost™ will be available in early 2019 and helps by giving you extra credit for the utility and mobile phone bills you're already paying. Until now, those payments did not positively impact your score.
This service will be completely free and can boost your credit score fast by using your own positive payment history. It can also help those with poor or limited credit situations. Other services such as credit repair may cost you up to thousands and only help remove inaccuracies from your credit report.