I am trying to understand why it is that I can check my credit reports once a year for free, but can't access my credit scores with out having to pay for them. This seems illogical to me and wrong, as it is my own private information. Can someone explain to me why this is the case? I find it quite aggravating. BTW- my reports are great, I know I have very good credit, I just want a number!!!
2007-09-19 16:57:20 · 5 answers · asked by Doc2b 2 in Business & Finance ➔ Credit
You have the right to see your credit report. However, the score is proprietary product of the credit bureau. It's their formula; not part of your information.
If the information on your credit report is good, you don't need your credit score.
2007-09-19 17:08:41 · answer #1 · answered by bdancer222 7 · 0⤊ 1⤋
This Site Might Help You.
RE:
Why do I have to pay for my credit score?
I am trying to understand why it is that I can check my credit reports once a year for free, but can't access my credit scores with out having to pay for them. This seems illogical to me and wrong, as it is my own private information. Can someone explain to me why this is the case? I find it...
2015-08-13 07:33:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋
As long as you make at least the minimum payment by the statement due date, the card will be reported to the credit bureaus as on time and will build your credit. However, if you carry balances, you are charged interest. The more you pay, the less interest you have to pay. The smart way to handle any credit card is to use it for regular purchases and pay the statement balance in full every month. This builds credit and avoids interest. If you must carry a balance, pay as much as you can every month and get it paid off as soon as you can. You get no extra score points for carrying balances and paying interest.
2016-03-19 12:31:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes I agree with you. But it is what it is and there's not much we can do about that. The only way to get a free credit report & score is by subscribing to a membership based credit report service. Once your get the credit report and score for free, then you can cancel it. Most of the services let u cancel anytime. That what I did to get my score. =)
2007-09-19 17:05:04 · answer #4 · answered by Anonymous · 1⤊ 0⤋
That is how business works. They take a resource, process it and give it back if you pay for it.
It is illogical but they are allowed to do it.
There are a growing number of credit providers that will give you your credit score for free if you apply for credit with them.
2007-09-19 17:09:59 · answer #5 · answered by Anonymous · 0⤊ 1⤋
It's because they destroy your reputation with errant information and then they have the gall to charge you to find out what they said or what points they give you. I agree. It's our own private information and we should not have to pay. Actually, they should have to pay us to keep our information in their files.
2007-09-19 17:06:45 · answer #6 · answered by Lola 6 · 3⤊ 1⤋
That's a tricky question..
2016-08-24 16:42:43 · answer #7 · answered by Anonymous · 0⤊ 0⤋