You've probably been bombarded with commercials lately offering you chances to get your free credit reports and free credit scores. What is the big fuss about? Why are free credit report and free credit score offers so popular?
To start, you need copies of your credit report and credit score. Let's begin by obtaining a copy of your credit report. You can get your free annual credit report from the government. You can request the three major credit bureau reports every year.
You need to get the rest of your financial picture by getting your credit score. Next, you need your credit score. Unfortunately there's not a government run program that allows you to get an absolutely free credit scores. So the only way to do this is to sign up for a free credit monitoring trial which will give you a copy of your credit score.
With your credit score in hand you are better able to understand what is a good credit score. Your FICO credit score has a range of 300 to 850. And just like in school the higher the score you have the better. You need a credit score between 740 and 850 to get the best insurance rates and interest rates.
Having a good credit score will allow you to qualify for the lowest interest rates on auto loans and home loans and get the best credit card deals and possibly even qualify you for a job promotion. This explains why a good credit score is so important.
Your credit score comes from the information in your credit report. Ensuring accurate information in your credit report will give you the best credit score. So review your credit report every three months or so and correct any errors. Now you can save thousands of dollars in interest on your credit cards and loans and hundreds of dollars on your auto and Home Insurance.
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