How to Obtain Free Credit Rating Scores

Timely bill payment is the most important factor in your credit score.

Your credit worthiness needn't be a mystery to you --- and thanks to the Fair Credit Reporting Act, it is your right as a consumer to have access to the important information on your credit report. Your credit report won't show your actual score unless you pay for it, but you can obtain the information that determines your score for free annually.

Things You'll Need

• Computer
• Phone
• Personal Information

Instructions

1. Go to annualcreditreport.com to order your free report online. You'll be asked for your name, Social Security number, address and possibly past addresses. Once you've provided your information, your report will be available instantly to view online.

2. Call 877-322-8228 if you are uncomfortable ordering your report online. You will need the same information listed above.

3. Order your report by mail by filling out the Annual Credit Report Request Form listed in "Resources" and mailing it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Tips & Warnings

• If you'd like to estimate your credit score without paying to obtain the actual information, look at FICO's description of what makes for a good credit score. (See Resources.) For example, 35 percent of your score is determined by your payment history and 30 percent of your score is determined by how much debt you owe. If you have low balances on credit cards and have an impeccable payment history, you can almost be certain that your score will be higher than the average consumer. Scores range from 300-850, and the higher your score is, the better. According to FICO, an excellent credit score is between 700-850, though you can still obtain new credit with a score in the low or mid 600s.

• Many companies, fraudulent and legitimate, thrive on tricking consumers into thinking they can obtain free credit report or score information by using their services. The only way you can obtain your report for free is through annualcreditreport.com; other companies will require you to subscribe to "free trials" of their services that end up charging your account if you don't cancel them. Additionally, a FICO credit score is never free --- any company that promises to deliver your credit score for free is either fraudulent or requires payment in the end. You can request your credit score through annualcreditreport.com or one of the three main credit scoring companies (Experian, Equifax, or TransUnion) but you will have to pay a fee, generally around $8 according to the Federal Trade Commission.

References

• My FICO: Credit Basics, Know Your FICO Score
• Federal Trade Commission: Building a Better Credit Report
• Federal Trade Commission: Need Credit or Insurance? Your Credit Score Helps Determine What You'll Pay

Resources

• What's In Your Credit Score