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15 Places to Get Your Credit Score for Free

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what is a credit score

While everyone can view one copy of their credit report from each major bureau each year for free through AnnualCreditReport.com, those don’t include any of your credit scores. Knowing your credit scores can be very beneficial – particularly if you are thinking about getting a new loan, credit card, or mortgage – and getting a free credit score is even better. Some sites dangle free credit scores at signup for a monthly service and, if you don’t cancel in time, you get stuck paying for something you might not need. However, there are free credit scores available. Here are some websites where you can get at least one of your credit scores for free.

Credit Karma

Credit Karma is one of the biggest names in free credit scores. They actually let users view both their Equifax and TransUnion VantageScore 3.0 scores right through the site or mobile app.

Credit Sesame

Credit Sesame is a lot like Credit Karma but only allows users to see their TransUnion Vantage Score 3.0 credit score. The score updates every month, usually triggered by your first log in during any given calendar month.

Bankrate

Quite a while ago, Bankrate purchased Quizzle, a free credit score service. Now, Bankrate users can view an updated TransUnion VantageScore 3.0 directly through the Bankrate site.

Experian

If you want to see your Experian FICO Score 8, you can access it through Experian’s FreeCreditScore website. The score updates no more than once every 30 days, and your login triggers the update request.

Discover

Unlike some credit card companies, which only provide credit scores to cardholders, Discover lets anyone see their Experian FICO Score 8 for free. The Credit Scorecard service updates the information when you request it, but you can only make a request every 30 days. However, if you need to know your score before submitting a loan or credit card application, this is a nice option to have.

American Express

If you have an American Express account, the company automatically provides you with your credit score every month. You can view your Experian FICO Score 8 for absolutely nothing as long as you are the primary cardholder and you have enough activity to generate a monthly statement.

Non-cardholders can also view a free credit score through the American Express MyCredit Guide service. However, this isn’t a FICO score. Instead, it uses TransUnion VantageScore 3.0.

Bank of America

Bank of America credit card account holders can see their TransUnion FICO Score 8 for free on the bank’s website. It updates every month automatically, and all you need to do is log in and head to the “View Your FICO Score” section by clicking on the link.

Barclays

Barclay’s credit cardholders also get access to a free TransUnion FICO credit score. You can view your history and current score by logging in and clicking “View My FICO Score.”

Capital One

Anyone with a Capital One account, regardless of whether you have a credit card with the company, can take a look at their TransUnion VantageScore 3.0 score in the CreditWise section of their account.

Chase Slate

Chase Slate cardholders also have access to their Experian FICO Score 8 every month. It displays right on your website dashboard and is updated each month automatically.

Chase

Anyone who doesn’t have a Chase Slate card can still view their credit score for free thanks to the Chase’s Credit Journey feature. This provides you with access to a TransUnion VantageScore 3.0 version and is refreshed weekly.

Citi

Select Citi credit cards make cardholders eligible for a free Equifax credit score. Users can take a look at their Equifax FICO Bankcard Score 8, which is updated each month.

Mint

Anyone who uses Mint can check out their TransUnion VantageScore 3.0 score for free. However, many free options (that aren’t related to a credit or lending account) only require the last four of your Social Security Number to get started. Mint bucks that trend, asking for your entire Social Security Number instead.

US Bank

US Bank cardholders can take a look at their TransUnion free credit score by heading to CreditView on their dashboard.

Wells Fargo

Primary account holders for a variety of consumer accounts can receive a free Experian FICO 9 Score through their online dashboard. The information updates each month, no later than the 5th business day of the month. This applies to credit card, mortgage, and similar borrowing or lending-style accounts.

FICO vs. VantageScore: What You Need to Know

When you look for a free credit score, you may have the ability to see either your FICO score or your VantageScore 3.0. While they are both forms of credit scores, they have different calculation criteria. Plus, lenders usually give more clout to one over the other.

While the details of how credit score calculation usually aren’t disclosed, we do know that the algorithms are different. As a result, your VantageScore may differ from your FICO score dramatically.

Most lenders use FICO credit scores to determine whether you are eligible for a financial product. This means that viewing your VantageScore alone might not be helpful if you are planning on opening a new account, as it may not align with your FICO score, even though both options have a range of 300 to 850.

Plus, there are multiple kinds of FICO scores, including some industry-specific versions that try to anticipate how likely a person is to repay a particular type of debt, like a mortgage or auto loan. Those industry-related scores can also have a range of 250 to 900, which may confuse consumers who aren’t aware of that fact.

From a monitoring perspective, VantageScore 3.0 credit scores can still be valuable. Generally, if your VantageScore is consistently rising over time, your FICO score like is as well. However, if you want to make sure you know your credit score before applying for a new account, then checking your FICO score is a better move.

Different FICO Scores from Each Bureau

It’s important to note that your FICO and VantageScore credit scores can vary from one credit bureau to the next. Even if they use the same scoring model (like the FICO Score 8), your Experian, Equifax, and TransUnion scores can all be different, though usually only slightly.

Not all lenders report to all three credit bureaus. As a result, one bureau may have a record of one of your credit accounts while another does not, impacting the bureau’s calculation of your score.

Before you apply for new credit, you may want to ask the prospective lender which credit bureau and score they use. Then, you can either try to find an option to view that bureau’s score for free or may want to pay to see your scores before you apply.

How do you usually check your credit score? Share your experience in the comments below.

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Top 5 SBI Credit Cards

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SBI Credit Cards
Being one of the most trusted banks of the country, State Bank of India has the onus to offer worthy credit card options. And, the bank has shouldered that responsibility well. SBI offers a range of simple and easy-to-use credit card options that people can rely upon. Their categories include shopping cards, travel cards, premium cards, classic cards and exclusive cards. Each one of their card has something unique and special to offer ranging from reward points, concierge services, lounge access facilities to movie tickets, flexi payment in EMIs and many more. Their every card offers a different set of benefits. So let’s take a look at the five of their most popular ones which you must consider while applying for a SBI credit card.

  1. SBI Platinum Card– Being from the premium card category, this card offers a range of exclusive offers on dining, international store purchases and discounts on shopping from departmental stores. It is a good option if such expenses account for a major share of your annual spending and you wish to earn points from that spending. The joining and annual fees for the card is Rs 2999, but it is worth paying the amount considering the offered benefits and gift vouchers you receive on joining and on renewal thereafter. These vouchers, worth Rs 3000, are valid for shopping apparels and hence are useful for one and all.
  2. SBI Signature Card- The SBI Signature card is one of the high-end cards and an expensive one offered by SBI. One of the most striking features of the card is the welcome gift, under which you are offered vouchers worth Rs 5000 redeemable at Raymond’s, Jabong.com, Lifestyle or Shopper’s Stop or a free one-way domestic ticket from Indigo airline. This one is a perfect card for you if you have got immense love for travelling and shopping and tend to spend a lot on these. Other reasons to apply for this SBI card includes the bonus offered on making spend of over Rs. 5 lakhs.
  3. SBI Gold Card– This gold card is a preferred choice for the ones who wish to have revolving credit for their day–to-day expenses. The expenses billed via the card will generate points that they can redeem for extra benefits. With a nominal joining and annual fee of Rs 499, this card is a perfect fit for paying utility bills, dining and shopping for groceries. The add-on facility of being able to avail cards for spouse and family also makes it a popular choice among individuals.
  4. Yatra SBI Credit Card-This co-branded, travel card can be of great use to you if you love visiting foreign lands or have to travel extensively because of work commitments. The range of benefits offered on this card includes discounts on holiday packages and on international shopping too. SBI in partnership with Yatra.com brings to you some amazing package deals meant exclusively for Yatra SBI credit card users. Other than making your vacations awesome, the card also enables you to pay for your day to day requirements like groceries, utility bills and departmental purchases.
  5. SimplyClick SBI Card– This high-tech contactless card is worth all the popularity it has secured in recent times. The numerous perks and rewards associated with the card are especially useful for the current generation who is fond of online shopping. SBI has collaborated with some of the leading e—commerce brands like Foodpanda, Bookmyshow,Lenskart, Ola cabs etc in order to offer the best of discounts and reward points to the card users.

You can opt for any of these credit cards based on your requirements, affordability and suitability. Once decided, you can easily apply online for a SBI credit card. Online portals like Paisabazaar can make the task easier for you.

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1 In 4 Kids Will Be Victims Of ID Fraud Before Age 18

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1 In 4 Kids Will Be Victims Of ID Fraud Before Age 18It’s hard for young Americans to leave the security of their childhood home and find their way in the real world. It’s even harder when identity thieves have stolen their identity and ruined their credit before they even have a chance to establish their own record.

The Federal Trade Commission (FTC) reported just under 14,000 cases in 2017 and over 15,000 cases in 2016 involving identity theft of Americans age nineteen and younger.

The credit bureau Experian reports that around 17 percent of their annual fraud cases target children, and they estimate that 25 percent of children will experience a form of identity theft or fraud before they turn eighteen.

ID Fraud Before Age 18

Identity thieves consider a child’s ID a gold mine. Parents don’t think to check for fraudulent accounts established in their minor child’s name.

They may not find out about the identity theft until bills or collection notices arrive or tax forms are rejected – perhaps years after the damage is done.

How do thieves get children’s information? A Social Security number is generally all they need – the rest can be pieced together with a basic Internet research.

Your Child’s Number

Think of all the places that your child’s Social Security number is collected and stored – schools, medical facilities, tax forms, day care centers – even sports leagues and summer camps often require Social Security numbers for identification.

Every reveal of your child’s Social Security number is an opportunity for hackers to steal that information. Hold back your child’s Social Security number and other personal information unless it’s essential. Safely store any documents containing your child’s personal info and shred the non-essential ones.

Consider your definition of “safe” very carefully – family members and friends can also perpetrate child identity theft.

Social Media

Social media also provides plenty of information for thieves to use. They may not find a Social Security number, but they may find enough information (place and date of birth, etc.) to successfully open accounts. Be careful about what you post online.

If your child has a credit report, you can place a credit freeze in your child’s name with the three major credit bureaus (Experian, Equifax, and TransUnion).

If your child has no credit file, you can create one and place a freeze on it. The recently-passed Economic Growth, Regulatory Relief, and Consumer Protection Act will make these actions free starting in September 2018.

Freeze It

A credit freeze prevents anyone from accessing your child’s credit file – even you or your child – and prevents thieves from opening an account in their name.

You can unfreeze the file when your child reaches age seventeen or is ready to establish credit – but be sure you properly store the PIN number required to unfreeze credit when the time comes.

If you haven’t checked to see if there is a credit report on your child, do so now. You can limit the damage caused by any identity theft and start the long process to clear your child’s name.

Other Resources

The Identity Theft Resource Center is an excellent resource for helping you assess the problem and walk you through the reporting and repair process.

Hopefully, there’s no damage and you can take pre-emptive action to keep identity thieves from opening accounts in your children’s names. Do your children a favor and protect their identity and their credit to the best of your ability.

Give them every opportunity to start life on their own with a clean slate – and then you can discuss whether their old room will be a craft room or a mancave.

This article was provided by our content partners at MoneyTips.com. Photo ©iStockphoto.com/Imgorthand

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5 Credit Tips for Recent College Grads

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5 Credit Tips for New College Grads
Congratulations to the class of 2018. We have a graduation present for you: five credit tips for recent college grads.

One of your first post-graduate lessons should be on the proper use of credit. Poor early decisions regarding credit can have adverse effects for years. Here comes some credit tips for college grads.

In the words of millennial money expert Stefanie O’Connell, “It’s really important for millennials to understand what a critical role credit plays in your life … it’s critical at every life phase.”

To begin your credit education, we offer these five tips.

1. Set Up a Credit Plan

You should not avoid credit. Potential creditors will look for evidence that you manage debts well, and when gauging risk, having no history is almost as bad as having a poor history.

Use a credit plan to carefully build a positive credit history and a good credit score, which Adam Carroll, Founder and Chief Education Officer of National Financial Educators, calls “hugely important when it comes to making major life decisions.”

Start by thinking about how many credit cards you really need, and when you plan to use them. Stick to one or two cards such as a gas station card and/or a starter credit card (with terms designed for limited credit).

Verify that all cards report account activity to the credit bureaus. Make small purchases with these cards and pay them off monthly without burdening your budget. Using this method, you can build a solid credit history in a short time and qualify for better terms.

2. Research Your Choices

There’s more to choosing a credit card than seeking the best interest rate. A wide variety of cards are available that cater to individual markets.

Online comparisons and reviews are available to help you assess the positives and negatives of each card. Seek the card that best matches your preferences and perks.

If you take advantage of introductory offers, make sure that you fully understand how things change after the introductory period expires (such as the effect on interest rates and repayment terms), and what actions you might take that would void your great deal. For example, a single missed payment could trigger a high penalty interest rate.

3. Always Pay Bills on Time

You don’t have to pay your credit card bill in full each month – although if you can, you should, to avoid interest charges – but you should always pay at least the minimum payment amount on time, without fail.

Payment history accounts for a large portion of your credit score, and missed payments count against your credit score for a long time.

Payments that are late by at least 90 days stay on your credit report for 7 years. Multiple missed payments compound the effect.

Don’t forget other debts like utility bills — phone, cable, and Internet — and even student loans. Missing payments on any regularly scheduled bill or installment loan will also damage your credit score.

4. Don’t Max Out Your Credit

If you spend near your credit limits, your credit score will suffer even if you pay the bill off in full every month.

Lenders look at credit utilization, the amount of credit you use as a percentage of your credit limit, to assess the risk involved in lending you money. Credit utilization accounts for another large chunk of your credit score.

With a limited credit history and being near your credit limit, lenders assume a few unplanned expenses could push you over the edge. Try to keep your balance below 30% of your credit limit at all times.

5. Create a Budget

As a new graduate, you are likely to have significant student loan debt and probably not enough income to cover all your spending wants.

It’s too easy to use credit cards as a crutch to prevent hard budgeting decisions. Find out quickly at what rate you can refinance your student loan.

Lay out a realistic budget for the upcoming year that incorporates all your regular payments and new expenses that you are likely to require as you start your post-graduate life.

Rent, furniture, insurance, new work-related expenses, taxes … it’s easy to lose track of your cash flow and fall back on credit to handle mistakes.

 

Ask friends and recent graduates for help if necessary. Mom and Dad may also be happy to help you lay out a sample budget. They were young once, too.

You’re off to a great start! It’s time to venture out into the real world and test your credit knowledge, but feel free to use all your available resources for help at any time. Continuous learning usually leads to the best decisions, in credit or any other aspect of life.

This article was provided by our partners at moneytips.com. Photo ©iStockphoto.com/andres

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Free Credit Freezes and Other Legal Changes You Should Know

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Free Credit Freezes And More Credit Changes You Need To Know
Although big banks stole most of the spotlight in the Economic Growth, Regulatory Relief, and Consumer Protection Act, the new law includes improved fraud alerts and credit freezes for consumers.

The law President Trump signed late last week had attempted to dismantle the post-credit crisis legislation known as Dodd-Frank. While it achieves some of that for big banks, it also gives consumers some additional tools to protect their credit reports.

Improved Fraud Alerts

Fraud alerts notify lenders that someone else may try to apply for credit in your name. Lenders must then take reasonable steps to verify the identity of anyone requesting credit in your name.

To take pre-emptive action, you can file an initial fraud alert with one of the three major credit bureaus (Equifax, Experian, and TransUnion). The bureau that receives the filing will notify the other two bureaus.

Under current law, initial fraud alerts only last for ninety days. The new act extends them to one year. Initial fraud alerts are still free, and they can still be re-applied after the time lapses.

If you are a confirmed victim of identity theft or fraud, you can place an extended fraud alert for up to seven years. That remains unchanged.

Free Credit Freezes

When you apply a credit freeze, no potential creditor can access your credit report to establish a new line of credit – even if you are the one making the request.

To apply for new credit, you must remove the credit freeze (also known as thawing the account) prior to submitting the credit application and reapply the freeze after the new account has been established.

You must freeze your account at each of the three credit bureaus individually.

Fees for Freezes

Currently, state laws govern the fees associated with each freeze or thaw. Typically, freezes and thaws are free for confirmed victims of credit fraud and range from $2 to $10 for other consumers.

In some states, you could pay up to $30 for each freeze or thaw. The new legislation eliminates these fees, making credit freezes free to all.

Critics note that by placing credit freeze policy under federal law, state laws with stronger protections may be pre-empted.

State or Federal Oversight

The battle between state and federal oversight is likely to continue – but, in the meantime, most consumers will benefit from free credit freezes and thaws.

Credit protections for children were also addressed in the new bill. Child identity theft usually isn’t spotted until many years later, when the child’s credit is already ruined.

Under the new law, representatives of minors aged sixteen and under can prevent theft by freezing their child’s credit for free. They may ask that a file be established for their child to freeze it, also for free.

Effective Dates

These changes are set to take effect in September — 120 days after the President signed the bill.

To be sure you understand the provisions of your state laws and how they may change, contact your state Attorney General’s office and any other state office responsible for consumer protection laws.

Remove Bad Information

Other reporting changes to the credit bureaus are designed to make it easier to remove adverse information from your credit report.

You may be able to remove defaulted private student loans from your credit report if you’re involved in a loan rehabilitation program through your lender and you make enough on-time payments to demonstrate both willingness and ability to pay off the loan on time from that point forward.

Veterans with Medical Debt

If you’re a veteran with medical debt, the new law offers further relief. Your medical debt can’t be reported to the bureaus until one year after the medical services took place.

Under current law, the grace period for reporting is 180 days from default of the medical debt.

If you’re a veteran with medical debt in collections, the debt must be removed from credit reports when the debt is paid, settled, or assumed by the Department of Veteran Affairs. Generally, removal takes seven years under existing law.)

If you’re on active military duty, you will also be able to sign up for free credit monitoring through the credit bureaus. Some sites already do this for free, but the new Act requires the offer.

The Takeaway

Whether you look at the dismantling of Dodd-Frank as correcting regulatory overreach or as the gateway to the next recession, the new bill’s effects on credit reports and credit freezes can help you in the short term – if you choose to use them.

Note that almost all of the legislative changes are passive. If you don’t use fraud alerts or credit freezes, the new rules have no effect on you at all.

Similarly, a lender isn’t going to remove a private student loan default from your credit report unless you ask.

Credit Management

Proper credit management requires action on your part. Check your accounts and your credit report regularly for signs of identity theft or fraud.

Promptly correct any errors that you find with the credit bureaus. If any of these new provisions can improve your credit score, apply them at the first opportunity.

Finally, take advantage of fraud alerts or credit freezes as they may apply to your situation. Either one may cause mild inconvenience, but that’s nothing compared to the misery of rebuilding your credit after criminals have destroyed it.

If you would like to monitor your credit to prevent identity theft and see your credit reports and scores, check out our free credit monitoring service.

This article was provided by our partners at moneytips.com. Photo ©iStockphoto.com/Robertindiana

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

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Uh, Oh, Identity Theft by a Friend or Relative — What to Do?

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identity theft by a friend or relative

According to a 2018 survey, nearly 60 million Americans have dealt with identity theft at some point in their lives. While many people assume that strangers are the only threat, some people have their identities stolen by someone they know.

Since friends and family typically have access to intimate details about your life, it’s easier for them to accomplish identity theft than many would like to believe.

Being a victim of identity fraud is always hard, but, when the identity theft is by a friend or relative, the blow is crushing. Luckily, you can move forward from this event by following the steps below.

1. Get Your Credit Reports

One of the first things you need to do is review your credit reports from all three bureaus. The easiest way is through AnnualCreditReport.com.

The process is fairly easy. You’ll need to confirm your identity and request your report from each bureau. You’re entitled to one free credit report from each bureau per year.

2. Set up a Fraud Alert

You’ll also need to contact at least one of the three credit bureaus and add a fraud alert. This locks down your account for 30 days, during which time no one can open new credit in your name.

However, if you can provide a police report documenting the issue, you can get a longer-lasting fraud alert; alternatively, you could just set up a reminder on your phone to renew the alert every 30 days.

Even if you aren’t sure if you’re a victim yet, a fraud alert gives you time to sort out the situation safely.

3. Notify the FTC

While federal authorities only pursue larger cases, the FTC monitors all incidents of identity theft. Let the agency know about your situation by filling out an ID theft complaint and affidavit form.

Doing so helps the government spot patterns and find ways to create a more robust system.

4. Call Creditors

Once you know which companies have fraudulent accounts or activity, you need to reach out quickly. Ask to speak with their fraud department and let them know your identity was stolen.

You can request they close or freeze the accounts, ensuring no new charges will occur. In some cases, they’ll require an FTC identity theft report to document your case, so you want to handle that first.

5. Change Your Passwords

Regardless of whether you can confirm any fraudulent activity taking place using your identity or accounts, you’ll want to be proactive about security.

Change all of your online passwords, along with personal identification numbers associated with any cards you might have.

6. File a Police Report

The person who stole your identity isn’t automatically pursued by law enforcement. For that to happen, you need to file a police report.

Bring a copy of your FTC report along with your identification, proof of address (like a utility bill), and any evidence of the theft to your local police department and ask to file a report.

Once the report is complete, make a copy. That way, if a creditor requires that document, you have it available.

7. Monitor Your Credit Report

Signs of identity theft might not show up in any of your credit reports right away — so you’ll want to check them on a regular basis and follow up on anything you dispute.

Consider signing up for any of the free services that enable you to keep tabs on all three bureaus’ reports in one place.

Carefully read your credit reports to see whether any information changes and notify the bureaus of anything that’s amiss.

Provide them with a copy of your FTC identity theft report (if you haven’t done so already). Once they have this document, they have to block any new changes to your records.

8. Contact the Social Security Administration

In some cases, an identity thief uses a person’s Social Security Number to secure employment. If that happened to you, contact your local Social Security Office for assistance.

9. Watch for Crimes in Your Name

Unfortunately, it’s not uncommon that an identity thief might supply your identifying information after being arrested for a crime.

This is why it’s a good idea to file that police report as soon as you learn of the identity theft — but if you learn of additional crimes being perpetrated with your contact information, you should file an additional report regarding the impersonation.

Provide law enforcement with copies of your ID, a photograph, and your fingerprints. Request that officers compare your information to the criminal’s and remove your name from the records once they confirm you didn’t commit the crime.

With each visit to the police department, make a point of recording the name and contact information of every officer you speak to while resolving the issue.

Request a clearance letter or certificate of release as well. This document says you were innocent. Keep the letter in a safe place.

10. Watch for Tax Theft

Be prepared for the possibility that the identity thief might try to file a fraudulent tax return on your behalf and attempt to claim your refund — file your taxes early so that no one else can horn in on what’s yours.

It’s also a good idea to complete an IRS identity theft affidavit to further prevent any would-be thief from claiming your return.

11. Watch for New Account Openings

Identity thieves may try to open new accounts in your name. They could be credit cards or utilities, for instance.

You can find a comprehensive list of steps to take in these scenarios at IdentityTheft.gov.

Identity Theft by a Friend or Relative

While you typically have to deal with a lot of red tape when trying to minimize the damage caused by identity theft, don’t take any shortcuts: You might not be able to see the full effects of this crime until it’s way too late — because someone who already knows you can cause a lot more problems than a stranger.

When the perpetrator’s a friend or relative, you really need to put in more effort to tamp out the crime. If you can stay the course and be thorough about following all of the steps listed above, you’ll eventually get it taken care of.

Readers, have you ever been a victim of identity theft or fraud — if so, what were your experiences in combatting it? If you haven’t experienced it, what sorts of things are you doing to protect yourself, if anything?

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