What is FreeCreditScore.com Score Planner?
FreeCreditScore.com Score Planner is an innovative tool designed to help customers understand their credit scores and make informed decisions about their finances. This tool provides users with an easy-to-use dashboard that displays their credit score, along with a breakdown of the factors that influence their score, such as payment history, credit utilization, and credit inquiries.
By analyzing this information, Score Planner can help users identify areas where they can improve their credit score and provide step-by-step guidance on how to do so. For instance, it may suggest paying down high credit card balances or disputing inaccurate information on their credit report.
What's more, Score Planner allows users to simulate different financial scenarios to see how they would affect their credit score. For example, users can test how taking out a new loan or opening a new credit card may affect their score. This feature can be particularly helpful for customers planning major financial decisions, such as applying for a mortgage or car loan.
Overall, Score Planner is an invaluable tool for anyone looking to improve their credit score, as well as gain a better understanding of how their financial decisions impact their creditworthiness. With its user-friendly interface and personalized guidance, Score Planner can help users take control of their credit and achieve their financial goals.
Frequently Asked Questions about freecreditscore.com score planner
CreditWise is a free service from Capital One that shows your TransUnion credit score, report and rating all in one place. It also features information and tips to help you improve your financial health.
By law, you can get a free credit report each year from the three credit reporting agencies (CRAs). These agencies include Equifax, Experian, and TransUnion.
Avoid Other Sites Offering Free Credit Reports
You might see companies and sites offering free credit reports, but there's only one authorized place to get the free annual credit reports you're entitled to by law: AnnualCreditReport.com.
Credit scoring software is a program used by lenders and financial institutions to evaluate the creditworthiness of a future borrower. It uses a variety of data, including credit history, employment history, and other financial information to generate the borrower's score.
Many credit scoring apps are safe to use, especially if you're getting them through your bank or one of the credit bureaus. But always be wary of scammers. If a company you haven't heard of asks for your payment or personal information in return for providing a credit score, that may be a sign of a scam.
For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750. In 2022, the average FICO® Score☉ in the U.S. reached 714.
AnnualCreditReport.com
To get the free credit report authorized by law, go to AnnualCreditReport.com or call (877) 322-8228.
There are four main ways to get a credit score.
- Check your credit card or other loan statement. Many major credit card companies and some auto loan companies have begun to provide credit scores for all their customers on a monthly basis.
- Talk to a non-profit counselor.
- Use a credit score service.
There is a multitude of websites claiming to offer credit scores at no cost. However, there's a big problem with many of them: They're not actually free.
A credit score is an indicator of a person's creditworthiness, or their ability to repay debt. It is usually expressed as a number based on the person's repayment history and credit files across different loan types and credit institutions. Credit score is also known as a credit rating.
Credit scoring models generally look at how late your payments were, how much was owed, and how recently and how often you missed a payment. Your credit history will also detail how many of your credit accounts have been delinquent in relation to all of your accounts on file.
Most credit scoring apps don't create or determine the score they show you, so they might not be more or less "accurate" than others. Apps that show you a FICO® Score or VantageScore based on one of your credit reports may purchase or be given your report and score and then share them with you.
What Do Credit Score Apps Do? Credit scoring apps let you check one or more of your credit scores. Depending on the app, you may have access to a FICO® Score☉ or VantageScore® credit score, the two main consumer credit scoring models.
A 750 credit score is considered excellent on commonly-used FICO and VantageScore scales, which range from 300 to 850. The exception is if you are new to credit because a high score isn't always enough. The length of your credit history and how much debt you carry relative to your income also matter.
Four Common Forms of Credit
- Revolving Credit. This form of credit allows you to borrow money up to a certain amount.
- Charge Cards. This form of credit is often mistaken to be the same as a revolving credit card.
- Installment Credit.
- Non-Installment or Service Credit.
You may request your reports:
- Online by visiting AnnualCreditReport.com.
- By calling 1-877-322-8228 (TTY: 1-800-821-7232)
- By filling out the Annual Credit Report request form and mailing it to: Annual Credit Report Request Service. PO Box 105281. Atlanta, GA 30348-5281.
