How/where do I get a credit score

March 1, 2013

How can I get my VantageScore credit score?

It
is important to note that there are many credit scoring models
available to lenders on the market, all of which generate unique
consumer scores. Each of the CRCs makes scores available for a fee. If
you are interested in obtaining your VantageScore credit score, you can
contact the CRCs directly for additional information:

Experian

TransUnion

How do I get a copy of my credit report?

Consumers
can obtain a free copy of their credit reports once a year from each of
the three national credit reporting companies at annualcreditreport.com or by calling 1-877-322-8228.

Why did I receive a free credit score if I was approved for credit?

Many
lenders will use a consumer’s credit report and/or credit score to
determine interest rates they will charge when approving consumers for
credit. Generally, consumers with a higher credit score will receive
better interest rates than those with lower credit scores. The Federal
Reserve Board and the Federal Trade Commission want to make sure that
consumers know that lenders use this approach to determine the price
they charge for credit. So, since 2011, they have required lenders to
notify consumers who aren’t offered the best rates and terms available
about the lender’s practice of using different pricing levels for
different consumers based on credit data if the consumer did not receive
the lender’s best rates and terms. In lieu of this notification, the
regulation states that lenders can provide all consumers who are
approved for credit with a free copy of whichever credit score the
lender used to make their pricing decision.

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