It’s important to review your credit scores from each of the three major bureaus to make sure your credit information is accurate and no fraudulent activity is present. Thanks to the Fair and Accurate Credit Transactions Act (FACT Act) you are entitled to a free report from TransUnion, Experian and Equifax once per year. The free reports can be accessed via www.freeannualcreditreport.com.
For many people, reviewing their credit reports is enough for peace of mind. However, some people want to also know their actual credit scores from the three bureaus and subscribe to a credit monitoring service. You can’t get this information as a part of the free services provided under the FACT Act.
Credit Monitoring
What is credit monitoring? Credit monitoring is the monitoring of credit history in order to detect suspicious activity or changes. It helps detect credit related fraud and identify theft. Credit monitoring services alert you of activity such as credit inquiries, delinquencies, negative information on your reports, employment changes, new accounts, etc. This can be useful information and you don’t have to wait a year to find out about it.
Credit Scores
It may also be helpful to review your actual credit scores from the three bureaus, so you can see yourself from lender’s perspectives. Anytime you take out a loan for a house, car, etc., lenders review your credit scores to determine the level of risk they’re likely to assume when loaning you money.
Also, keep in mind lenders are not the only ones checking credit scores. Credit scores matter when you are purchasing a cell phone, applying for a job and when renting an apartment. Like it or not, all of these service providers are interested in your credit score and history.
While I used to not believe in checking my credit scores, I do think it’s important to review them from time to time considering the many ways they’re used today. So, what is the best way to get your credit scores or credit monitoring (if you’re interested in this service)?
GoFreeCredit.com
I just used GoFreeCredit.com which provides an easy way to get free credit scores. How does it work? Simply sign up for their 7 day free trial of the Credit Score Complete service. You get the following benefits:
- Instant access to your free credit scores.
- A consolidated credit report from the three bureaus
- Credit monitoring and alerts service
- Helpful information about credit reporting and credit scores
You can cancel anytime during the first 7 days by calling GoFreeCredit.com or online by logging into your account. You pay $19.95 if you decide to continue the service.
Note: Checking your own credit is a “soft pull” and will not effect your credit report or score. Applying for loans, housing, credit cards, etc, are considered “hard pulls.” Soft pulls have no adverse effect on your credit report.
My Experience with GoFreeCredit.com
I decided to sign up for the Credit Score Complete free trial and was able to get my free credit scores and consolidated report immediately after the registration process was complete.
During the registration process I was asked a few times if I was interested in signing up for additional services and email newsletters. I declined all of them. Take your time and don’t click too fast or you’re likely to sign up for more than intended.
When you sign up, you’re asked to provide a credit card that will be charged the monthly service fee if you don’t cancel within 7 days. There is a $1 fee charged to verify the card which they state is reimbursed to your account. However, I read an online review and found out you must call to get the $1 reimbursement even if you cancel online. Here is their number: 1-800-316-8750.
After confirming my order I created a user name and password and confirmed my identity. I was taken to the Credit Score Complete website and was asked to provide typical information required to verify my identity, such as confirming a previous address (this information is also requested when signing up at www.freeannualcreditreport.com). Once completed, I was provided links to click to get my credit scores and a consolidated credit report.
Final Thoughts
I was pleased that I quickly and easily received my free credit scores and consolidated credit report from GoFreeCredit.com. Overall, my scores were very good and there were no issues on the consolidated report. With having this information, I feel like I now have some leverage with potential mortgage providers since we’re considering a new home this year. Also, I have more peace of mind knowing there are no issues on my credit reports.
Have you used GoFreeCredit.com? If so, what has been your experience?
Learn more about improving your credit scores.
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