Free Credit Score: Important And Available

It is a common feature among the borrowers in the financial market that many of the

loan-seekers are rejected by the lending agencies and banking institutions on the ground that their credit score goes below 580 marks. The loan-seekers, in general, do not know the importance of credit score. They do not even know free credit score is available.

Credit score is a reading within the range from 330 to 850 which is prepared by the financial bureaus (Equifax, Trans Union and Experian for example) which actually create the credit report of the borrowers. These bureaus collect ID information and other necessary data of the individual borrower and use those data to create the credit file. When a person applies for finance to the lending agencies (loan, mortgage, credit card agencies etc), the lender secures the credit report of the borrower from the financial bureaus and checks the credit status of the applicant. He turns down the application if the loan-seeker has unhealthy credit report. There is reason to believe that the situation would have been, in some cases, different if the borrower could secure free credit score.

Credit files created by the financial bureaus are not always free from errors. When the staff of the said bureaus prepares the credit report, they may make some wrong entries. They may miss some data to include. If the borrower chances to verify the credit report, it is possible for him to identify the mistakes. He can get the credit report corrected. This may enable him eligible for securing finance. He can move this way if he knows that he can avail free credit score.

It may happen that there is no error in the credit report and that his credit score is less than what is required to qualify for loan. Even then, he can take steps to improve his credit status if he learns the actual state of affair well in advance. He can plan beforehand and apply for finance at an appropriate time.

How can one get a credit report? this is what once should type on the space provided in any search engine. Yes, it is so easy in the age of the internet. He can get access to his credit file and can know free credit score easily.

by: Anthony Brian

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