Keeping up-to-date on your credit score can help you maintain your financial health and we’ve found the six best apps for checking your credit. Your credit score is one of the most important aspects of your financial history. It is used by creditors to determine your creditworthiness, and the interest rate you can receive in loans. Credit scores usually range anywhere from 300-850.
The lower your credit score, the worse your situation, and this means that you are less likely to receive approval for credit. In some cases, you may not get the job you want, or even rent the apartment you wish to rent due to low credit. Having a low credit score means that you simply cannot be trusted when it comes to repayment of your credit, and it also shows that you are not careful with your finances, because you have either borrowed more than you can pay, or you are living beyond your means.
For these reasons, it is best to keep up-to-date on your credit score and correct any problems if they arise. If you notice that your score is below 600, you are in the danger zones and very soon you shall end up with more trouble in your hands, as even credit card companies shall no longer allow you to apply for credit cards. Our editors have looked into the best apps for checking your credit and come up with some answers.
A Breakdown Of The Best Apps For Checking Your Credit
The following is a list of the best apps for checking your credit score. These apps will help you monitor your score and make changes where needed so you are always up-to-date on where you sit on the financial scale of things. Read through the whole list of the best apps for checking your credit score before you decide which one is right for you.
Credit Karma is one of the best apps for checking your credit score often because it is absolutely free. The company usually lists your score and updates your report on a weekly basis. Credit Karma offers you a credit report which is usually broken down in order to analyze your problem areas and how you can easily solve them.
Credit Karma uses the Vantage 3.0 score, which is basically the FICO credit score. The app enables you to keep track of your TransUnion and Equifax credit bureaus, which are two of the three main credit bureaus.
This is another excellent option that enables you to access your Experian Score and your Vantage score as well, also at no cost. It is free and you shall receive a grade that ranges from an A+ to an F. These are the five main factors affecting your score such as debt usage, payment history, account mix, credit age, and other inquiries. It comes with a number of visual aids and other specific action items that will enable you to sport any credit blunders and understand how you can fix them in order to improve your score.
This is a must to have because Experian is one of the three main credit bureaus. With this app, you are going directly to the source and you shall be able to monitor any changes you may have to your Experian credit profile. You also get the option to monitor any changes present in your profile with the option of having push notifications that are sent directly to your phone whenever any changes take place.
Mint: Budgeting, money manager and personal finance app
This is a free debt management tool that also offers credit monitoring services and helps you understand your financial information and how you can best improve your credit score. The score provided is usually the Equifax score. When you connect your credit cards and bank accounts plus other investments, you shall have a comprehensive picture of how things are.
This app offers a sneak peek into your Experian Score. The FICO score ranges from 300-850. Credit Sesame is also an alternate credit model that is able to perform a “soft” pull of your history and show you just how much you owe, your current interest rate and the history of your credit score. In addition, it also provides you with some refinancing options in partnership with other lending clubs which can help you pay off your high-interest debts.
This offers a credit monitoring service from Capital One. You really do not need to have an account with Capital one or to sign up for a new account. Each week, this app will provide you with a TransUnion Credit score. The beauty of this app is that it has a credit simulator, which is used to help you improve your TransUnion credit score.
What Are The Best Apps For Checking Your Credit Conclusion
If you haven’t been paying close attention to your credit report, it could be the reason why you seem to be paying very high-interest rates on most of your loans. In addition, it will keep going down if you do not improve on it. Most people end up in very deep debt and have to declare bankruptcy, simply because they did not take proper precautions when the credit score started going down. Keeping track of your credit score with the above apps is always a very good idea.