Paying for credit score – do you have to?

Is paying for a credit score something new for you? Credit reporting companies may charge you for your credit scores, but you can also get it somewhere for free. Lenders, housing counselors, and non-profit credit counselors also give it for free.

Three major consumer reporting companies can give you your credit reports for free -Equifax, Experian, and TransUnion. You can request your free annual credit report online or by mail. If your request is denied by chance, you can contact the Credit reporting agencies for help resolving the issue. They should be able to explain why your request was denied. The usual reason why your request for a free credit report is rejected is because of incorrect information.

Should I be wary of paying for a credit score when it’s free?

Like any other online scam, some sites and companies allegedly offer free credit score reports. But in reality, these “free reports” are not free. When you don’t read the fine print, you are unknowingly enrolled in a credit monitoring service.

Be careful of sites that offer you “free reports” but offer another score. So make sure you only go to reputable credit reporting companies for your credit score report.