You should always keep a tab on your credit score in order to ensure that when the need arises you can avail of new loans at low interest rates. Consumers have a right to get free annual credit reports from three big credit reporting agencies under the Fair Credit Reporting Act, 2003.
There are various sites that claim to provide credit scores for free. But beware of these sites as many of them charge you for annual credit reports after their trial period is over. You must be careful to unsubscribe from these sites before the trial period is over if you do not wish to pay for the credit score reports.
Moreover, the scores given by these sites are not the exact FICO scores that are the most popular basis used in the loan market. The scores given by the websites are estimates based on the answers given by the users to a series of questions. The sites use different models to calculate the score and from most of them, you will only rough estimates of what your FICO score would be.
Credit.com allows users to use the FICO model for calculating credit scores. It also provides various other models for calculating credit scores. Other sites that give FICO scores include Bankrate.com that has a FICO Score Estimator, which gives you a score range based on 10 questions.
FICO scores from TransUnion and Equifax, the two main credit reporting agencies, are also very popular. It is possible to get them at a price from myFICO.com. Credit.com gives you the scores based on your credit report with TransUnion and so does Credit Karma, though the scores from Credit Karma are not FICO scores but TransRisk scores. Equifax.com gives you an Equifax Risk Score range, which is also used by a few lenders.
Most of the sites such as Credit Karma and Credit.com will give you a Credit Report Card but you will not get the full credit report. Some of these sites will also give you reasons and explanations for your scores. This way you would find out what you can do to improve your score.
You can easily get an idea of your credit scores online from these websites and this will help you in understanding your ability to get credit as well as the interest rates or fees that will apply to you. Just remember that you cannot get the exact credit report from these sites but you can use the results to improve your credit situation.