How to check your credit score for free

Knowledge is a good thing when it comes to your money. For example, you may be curious about credit scores and how they work. That's a positive sign that you're ready to move forward financially. 

Did you know that you can check your credit score for free? We'll walk you through how to do it—and why you should do so regularly. 

What is a credit score and why does it matter?

A credit score is a three-digit number that reflects how you've managed credit and debt in the past. FICO scores, which most lenders use to check your creditworthiness, range from 300 to 850. If you haven't already guessed, 850 is the highest.

Why does your credit score matter? Lenders use your scores to gauge how likely you are to repay what you borrow. A credit check is usually required when you apply for loans or lines of credit. 

A "good" credit score, which typically means a FICO score of around 670 or better, could make it easier to get approved for new credit. Your credit scores could also influence the interest rates you pay. 

Lenders also adjust pricing to different credit score ranges. With a higher score, you might be eligible for a lower interest rate. Low interest rates reduce your total cost to borrow. 

Where to get your credit score for free

If you're ready to check your credit scores and don't want to pay a fee, you have some options. Here are the best places to get free credit scores. 

• Bank and credit card apps. Many banks and credit card companies offer free credit scores as a customer perk. You just log in to your account dashboard to view your scores. Scores are typically updated once a month. 

• Free credit score apps and websites. You can also check your scores through credit monitoring apps or websites. Some examples of places to get free credit scores include Credit Karma, Credit Sesame, Experian, Capital One CreditWise, Discover, and FICO itself. Anyone 18 or older can sign up for these services, with no payment required.

It won't hurt your credit to check your scores through multiple sources. 

What to look for when checking your credit score

Use a reputable website when you check your credit scores. You should also pay attention to what kind of score you'll get. 

• Avoid "free" services that ask for your credit cards. Free credit scores don’t require a credit card number. If you're asked for your credit card to check your credit scores, you could end up with an unexpected charge on your card once the so-called free service ends and a paid subscription begins. If you reach a screen where your card number is required, close the tab and start over. 

• Pay attention to the score type. FICO scores are used by most lenders, but some use VantageScore for credit decisions. VantageScore uses a different calculation to generate your score, and they don't always match your FICO score. It’s good to know both.

How to understand your credit score

Once you have your credit scores in hand, it’s time to interpret them. For example, do you have good credit? Bad credit? The difference matters if and when you plan to apply for loans. 

Every lender gets to decide for itself what credit scores are considered good or excellent, but the ranges tend to be similar. FICO score ranges generally break down like this:

• Exceptional credit: 800+

• Very good credit: 740-799

• Good credit: 670-739

• Fair credit: 580-669

• Poor credit: Below 580

It's good to know where you land for two reasons. 

First, your score can give you an idea of what kind of loans or lines of credit you might qualify for, and the interest rates you'll pay. Second, you can figure out what to focus on if you want to improve your credit. 

How often to check your score

You can check your credit scores as often as you like. If you want to get into a routine or habit, you might check your scores once a month. 

Why monthly instead of daily or weekly? Because free credit scores don't update instantly. 

For example, if you pay off a credit card balance today, your score isn’t likely to change tomorrow. First, the credit card issuer has to receive your payment. Then, they have to report your new balance to the credit reporting agencies. Credit card issuers often report your account status on or soon after your statement closing date, but some issuers don’t upload reports every month. It could take weeks or longer for your scores to be updated.

What about credit reports?

A credit report is a collection of personal and financial information about you. Credit bureaus generate credit reports. There are three main credit bureaus: Equifax, Experian, and TransUnion. 

Key data on a credit report includes your:

• Name

• Date of birth

• Employment history

• Current and previous addresses

• Debt accounts and credit activity

• Bankruptcy public records

• Inquiries into your credit history

It's good to have both your credit scores and credit reports, so you have a more comprehensive picture of your debt health. 

You can and should check your credit reports for errors. Inaccurate information on a credit report could hurt your credit scores. You have the right to dispute credit report errors to have them removed or corrected. 

How to check your credit reports for free

You can check your credit reports for free through AnnualCreditReport.com. This is the official website for free credit reports. 

You'll need to create an account if you don't have one, but then you can access one or all three of your credit reports. AnnualCreditReport.com offers one free report from each credit bureau every week.

You could also check your report through a credit monitoring service if that benefit is offered. Experian, for example, gives you free access to your Experian credit report along with your credit score.

Relationship between reports and scores

Credit reports and credit scores are separate but linked. Your scores are calculated based on the information that’s on your credit reports. 

Five key factors affect your credit score calculations:

• Payment history

• Credit utilization, or how much of your credit limit you use

• Credit age, or how long your accounts have been open

• Types of credit you use

• Credit inquiries, or applications for new credit

Changes to any of these items could result in a change to your credit score. 

Details like your employment history, age, income, or savings don't affect your credit scores.

How often should you check your credit reports? 

It's usually a good idea to check your credit reports once a year. You might want to check them quarterly or even monthly if your goal is to fix your credit.

Here are some tips on how to read your credit report:

• Review your personal information to make sure everything is correct.

• Look at each debt account listed to confirm that it belongs to you and that your payment history and balance details are correct.

• Check to see if any new credit inquiries have been made that you don't recognize.

• Look for any accounts you don't remember opening, which could be a sign of fraud or identity theft.

Use your reports to figure out what you could do next to improve your scores. For example, if one or more of your credit cards is maxed out, you could work on a strategy to pay down your balance. 

What's next

• Get a copy of your credit report and review it to see what's helping or hurting your credit scores. Dispute any errors you find. 

• Check your credit scores to find out which range you're in and how close you are to moving up to the next level. 

• If you have debt, download the GOOD App to track your repayment progress in one place.