Best Free Credit Report
The first step towards good credit is a free credit report. We recommend 3 top credit monitoring services,
and tell you which ones to avoid.
Monitor your credit with a free credit report
What’s the best place to start when you decide…it’s time to fix my credit score!
The first step is to check your credit score.
There are several good credit monitoring services in the US. Some are free. Some charge a monthly subscription fee. And some offer a free credit score check with the option to upgrade to a paid subscription. The free services give you a simple, single-bureau report with monthly updates. The paid services give you a more complex, 3 bureau credit report with weekly or even daily updates.
I advise my clients to start with a free credit report. They are simple and easy to understand. Plus, you only get monthly updates, which stops you from constantly checking your score and feeling disappointed when nothing seems to be happening. It’s a bit like checking the bathroom scale every day when you start a new diet. Stick to the plan and the needle will move. Daily check-ins will only make you crazy.
Be careful to avoid companies that offer a free credit score, and then ask for your credit card number. This is probably a trial offer that automatically converts to a monthly subscription. The charges could be as high as $35 or $45 per month.
What’s the best free credit report?
When it comes to the best free credit report my 3 favorites are: Experian, TransUnion and Credit Sesame.
Experian is the oldest credit bureau in the US. They developed the FICO Score™ that’s used by more than 90% of all lenders when they review a credit application. Experian offers a free credit score report with the option to upgrade to a paid subscription. Plus, they recently launched Experian Boost. This new tracking methodology gets you extra points for rent, cell phone, gas-and-electric and other recurring payments. Most credit bureaus don’t track these numbers, even though they know they’re excellent indicators when it comes to predicting good credit risk.
TransUnion is one of the big three consumer credit bureaus. They normally allow consumers to access one free credit report per year. However, you can get an enhanced free membership through April 2021 that includes weekly updates with recommendations on how to improve your credit score. It’s part of their commitment to American consumers during the COVID-19 outbreak. If you decide to upgrade to a paid subscription, you’ll get unlimited access with daily updates.
Credit Sesame is not a credit reporting agency, but they offer a strong combination of services. You get a free score from a major credit bureau. Plus, the option to take advantage of a free digital bank account called Sesame Cash. The package includes credit alerts whenever there’s a change to one of your reports. And Credit Sesame will recommend personal loans and credit cards that are likely to be approved for someone in your credit category.
Summary
The best way to monitor your credit is to sign-up for a free credit score report.
You’ll see where you stand today, and you’ll get monthly updates to track your progress. I always recommend a free credit check to start. You can always upgrade to a paid subscription that includes all 3 credit reports with daily updates.
Watch your number go up each month. And you’ll find all the motivation you need to take those small steps that will raise your score from poor to fair, and from good to excellent.