subject: Free Credit Score Check: For Correction And Improvement [print this page] Free credit score check is very helpful for the borrowers, but they should have basic idea about credit score. Financial bureaus like Equifax, Trans Union and Experian acquire data about annual financial transactions of the borrowers from different financial agencies. They build up the credit files of the individual borrowers with several data (credit type, credit inquiries, borrowed amount, credit history, payment history etc for example).
The credit scored is placed into a scale of marks which has a range starting from 330 ending at 850. It is said that persons with a credit score lower than 580 marks have messed up their credit record. The borrowers of this group experience embarrassment when they apply for loans or mortgages and when their application is turned down. They could avoid this kind of embarrassment if they had earlier knowledge about free credit score check.
Everyone in the financial market knows that there are people who have been tagged with less payment, late payment, arrears, defaults, CCJs, IVAs, bankruptcies etc. Actually, they have limited and fixed earning and they cannot manage finance in the face of growing demands of life and living. It is clear that they have poor credit report. Despite this, they are sure to be benefitted if they are aware of free credit score check.
It is a fact that the staff of the financial bureaus, sometimes, makes some mistakes. They make mistakes when they copy the data from the original documents. Sometimes, they miss to include some of the data and do not take into accounts. The obvious result is a wrong conclusion which is noticed in the credit file of the borrowers. The borrowers can find the mistakes if they get an access to the credit file. They can point out the errors to the staff of the financial bureaus. They can find that their credit report is quite worthy after the corrections are made. Here lies the importance of free credit score check.
On the other hand, they can try to improve their credit status well in advance, if they find that they have less credit score than what is required to be eligible for securing loans etc.
The most important thing is that there is provision for free credit score check. The borrowers are to visit the specific websites prepared by the financial bureaus. They can get their credit report free of cost.
