How I Check My Credit Score
First of all I have to make you understand what exactly your score is. It is the lenders who score you to predict likely behavior whenever you get a mortgage, overdraft, loans, credit card etc.
The scoring system done by the different companies are not published and they vary from lender to lender, and this indicates that if you are rejected by one company it doest means that you will be rejected by others also. Credit scoring does not only deal with the choice of the product but it also suggests you how good you can get. For example if your score is too low then you will not get good rates of loans, mortgage etc.
Please remember that a credit report is free but credit score is not. This is a very common mis-perception when people try to find their personal score. Your score is a FICO based number that is a weighed average against all other consumers based on your credit history. Your report is list of your current lenders and balances for each particular lender. Reports will also include your payment history per lender.
Negative marks on your report will include; payments past the 30, 60, or 90 days late mark, any bills that have been moved into collection status (both paid and unpaid) and then just softscore checks for if you are applying for credit.
For a score check:
Firstly you request your credit report from annualcreditreport.com which is free and this site will permits your credit report.
Secondly you have to be enrolled with a credit reporting company to obtain your score, after the monthly fee is charged to you.
There are many other companies who help in credit checking score. A free trial for services is offered by these websites that provides you the Equifax FICO score of yours. FICO scores came in use of the U.S. largest banks
The people who find themselves with a low score face difficulties in qualifying to enjoy the comforts of life. It is always better to have high scoring as it is inversely proportional to the charges and interest rates. If the score is high the rate of interest is lower as it lower down the risk of the financial institution in getting their money back from the customer. So it should be a mandatory thing to check your score on regular basis if you are a national of western countries.
