Personal Finance 101: How To Check Your Credit Score
June 23, 2021 | June Mckaig
Are you trying to stay on top of your personal finance 101? Well, part of personal finance 101 is knowing how to check your credit score.
There are plenty of tips on how to check your credit score. First, check with your credit card company or other financial institution. If that doesn’t work, you can try directly ordering your credit score from a credit bureau. And finally, you can use a free or subscription-based service.
Here are some inside tips on how to check your credit score before looking at how an online title loan can help when you’re experiencing financial difficulties.
How To Check Your Credit Score And Why You Should
In essence, your credit score measures your past responsibility when it comes to borrowing and paying back the money.
Part of personal finance 101 is keeping tabs on your credit score so that you’re in good shape to get approved for important things like a new apartment or house mortgage or car.
A lot of people don’t understand the basics of credit scoring and why it’s so important for their personal finance. In essence, lenders want to easily assess potential borrowers. If you seem too risky i.e. liable to default on a loan, they won’t want to conduct business with you.
You don’t want to have trouble getting loans as they are a normal and important part of personal finance. They help prevent things like getting denied for a car, or apartment, or a mortgage that could make your life a lot more difficult. Plus, a great credit score will get you a much better interest rate on your loans.
So, while there are plenty of ways to improve your credit, these are just a few that touch the surface. Here are three key facets to keep in mind when it comes to a strong credit score:
- Always be sure to pay back the minimum balance on time. Not paying for more than thirty days is known as “delinquency,” and more than ninety days could result in defaulting on your loan, both of which will hurt your credit score.
- To keep your credit utilization ratio down, keep your credit card balances around one-third or less of your overall credit limit – or spending limit.
- Don’t unnecessarily cancel old credit card accounts or open new ones, as this can also hurt your score.
Check With Your Credit Card Company
Many major credit card companies and other financial institutions now offer to provide you with your credit score. JP Morgan Chase, for example, highlights a credit scoring service called Credit Journey on their mobile app.
Another popular personal finance 101 service, TurboTax, may recommend Credit Karma after you file your taxes. Since these might be free or discounted services, it’s worth checking here first.
Order Your Credit Score Directly
Another tip for personal finance 101 is checking your credit score directly. You’re allowed to get a free copy of your credit report once a year from the three major credit scoring companies — Experian, Equifax, and TransUnion.
If you do one every four months, then you’ll be able to check your credit score for free three times a year. The only problem is that these credit reports might not actually contain your credit score, meaning that you may want to use a free or paid credit scoring service.
Use A Credit Scoring Service
Using a credit score service is definitely personal finance 101. You can use a service like Credit Karma to check your credit score for free. It would appear that they make money through advertising and partnerships with credit card companies, as they suggest credit cards and loans for you to check out.
Credit Karma is also nice because it breaks down the various major factors that dictate your credit score, like your credit age, credit card use, payment history, derogatory marks, and so on.
Get Emergency Help With An Online Title Loan
It’s super important to stay on top of your credit score as an essential part of personal finance 101. Sometimes, however, you might be hit with an emergency that makes it nearly impossible for you to stay up on your card or loan payments and ensure that your credit score is as high as possible.
With an online title loan from Fast Auto Loans, you can get approved quickly and easily. An online title loan is a loan you get using your vehicle’s title as collateral. The best part about this is you don’t even have to come into the nearest online title loan location. Just reach out to a representative so you can set up an appointment where you will bring your vehicle for inspection along with the lien-free title and your driver’s license or government-issued ID.
This loan is meant to help with emergency expenses – not to raise your credit score. We don’t even report to credit bureaus if you default on your loan. This means your credit isn’t affected by this loan. And since it isn’t a permanent fix, you shouldn’t take it out if you don’t really need help. But this loan will help get your emergency expenses out of the way so you can get back to improving your credit.
How To Get An Online Title Loan
Getting an online title loan is not a difficult process. It begins with you filling out the online form. Once it is filled out, a loan representative from the nearest location will give you a call to set up the meeting.
Once the meeting is set, you can grab your driver’s license or ID, your vehicle’s title, and the vehicle. They will assess your items and inspect your vehicle to determine how much you could qualify for. If you get approved, you will get the cash either the same day or the next bank business day.
Learn How To Check Your Credit Score, Today
Knowing how to check your credit score is important to keep you on your financial track. Remember these tips when you want to check your score. And if you need help with emergency expenses, turn to an online title loan from Fast Auto Loans, Inc. today. Fill out the online form today to get started.