Use Free Credit Report Websites : • Go to AnnualCreditReport.com, the only authorized website for free credit reports. You can request one free report per year from each of the three major credit bureaus: Equifax, Experian, and TransUnion.
Check Your Credit Score via Credit Monitoring Services : • Many financial services offer free credit score access, such as Credit Karma, Credit Sesame, or through your bank or credit card account. These tools often provide your VantageScore or FICO Score.
Review Your Credit Score Range : • Credit scores typically range from 300 to 850. To qualify for better loan terms: o 750+ = Excellent o 700–749 = Good o 650–699 = Fair o Below 650 = Poor
Check Your Credit Report for Errors : • When reviewing your credit report, look for any inaccuracies or fraudulent activity. If you spot errors, dispute them with the credit bureau.
Understand the Lender’s Scoring Model : • Lenders usually use a FICO Score or Vantage Score to evaluate your credit. Be aware that different lenders may use different models.
Consider Your Loan Eligibility : • Your credit score plays a key role in your loan approval and interest rates. The higher your score, the better the terms you’re likely to receive.
