Free Credit Report
Did you know a higher credit score will earn you lower interest rates, and lower interest rates can save you hundreds of thousands of dollars over your lifetime? The first step to improving your credit score is to know what your credit looks like.
Know Your Credit History
Your credit report contains facts about where you work, live, how you pay your bills, and other credit-related information. You want to be sure your credit report is complete and accurate because businesses use it to evaluate your applications for credit, insurance, employment and other purposes.
Major nationwide credit bureaus
Your credit report is maintained by nationwide credit bureaus. These include:
- Experian
- Equifax
- TransUnion
The law requires each bureau to provide you with a free copy of your credit report once every 12 months if you request it. (For loan decisions, Box Elder Credit Union uses Experian as its primary credit bureau.)
Order your free credit report
You can request your free credit report in two ways:
- Call 877.322.8228
- Get it online at www.annualcreditreport.com
You should use your credit score as an estimate only because the score can change often. If you believe your credit report is inaccurate, you can dispute it online for fastest resolution. If you’ve been denied credit, you may qualify for a free credit report.
More information is available online from the Federal Trade Commission
What is a Credit Score?
Your credit score is a numeric representation of your creditworthiness. Numerical weights are placed on different aspects of your credit report, and a mathematical formula is used to arrive at a final score. Credit scores are one of the primary tools a creditor uses when determining whether to lend money to you and at what interest rate.
Box Elder Credit Union pulls credit reports through Experian, a credit reporting agency. Scoring model FICO II; with a scale of 300 – 850. Your credit score could vary by lender depending on the type of scoring used.
