Banks and other financial institutions will need to check your credit report information before you get approved for a new credit card and any loan applications such as auto loans and student loans.
Monitor Your Credit Score And Report With These Free Credit Score Apps
Your application’s success and interest rates depend on your credit score and credit profile.
But, did you know that 26% of people find an error or credit inquiries in one out of three of their credit risk reports that lead to low or bad credit?
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This is why it’s important for your financial health to always check your credit rating and reports for your fico score and VantageScore credit scores yourself. Catching any error, soft inquiry, or hard inquiries and disputing it will keep your credit report clean and accurate. It can also help increase your score from a low score to a good credit score.
You can get a free online credit evaluation to get started, too.
Not only that, a messy credit report and credit accounts can affect lending decisions and job opportunities. It can also hinder you from getting approved for loans such as personal loans and car loans, and loans from mortgage lenders, or opening a credit card.
It can raise your insurance rate and your rent. Some providers ask for high deposits upfront if your credit report is poor. This is why you need a higher credit score.
To learn how to clean up your credit report yourself, check out –> Clean Up Your Credit Report Yourself
The three big credit reporting agencies and major credit bureaus, Experian credit report, Equifax, and TransUnion credit score, are required by federal law to allow you access to your credit report, for FREE, once every 12 months.
Regular checking of your personal finances and credit report can help you immediately identify errors and potential fraud. But, the next question is: How can you monitor your credit report?
There are several credit monitoring best apps that you can use on your mobile device that are safe and user-friendly…
1. Credit Karma
Credit Bureau Reports Pulled:
Equifax and TransUnion report
Report Update Frequency:
Weekly
Credit Karma is the best free credit monitoring app since they offer unique features other than a free way of letting you check your credit report and sign up for credit monitoring service alerts.
Some of its features include a free credit scores simulator that helps you make important changes to your credit and a free tax filing station. It also has an unclaimed money search that allows you to see whether the state has some of your money and can’t find you.
This app needs a little personal information, such as your social security number. Making this one of the best credit monitoring apps.
2. CreditWise® From Capital One®
Report Pulled:
TransUnion® credit report
Report Update Frequency:
Weekly
CreditWise® was once an exclusive app for Capital One customers, but it now this credit monitoring app is free for everyone.
CreditWise® credit repair organization offers a free service that allows you to get a weekly free credit report and alerts via push notifications and email. It keeps you up informed about your recent inquiries and full length of credit history. It also lets you see how your actions affect your own credit score—making this app one of the top credit monitoring apps.
If you don’t know how to improve your overall score, CreditWise® offers personalized recommendations.
3. Mint
Report Pulled:
TransUnion®
Report Update Frequency:
Every 30 Days
Mint is one of the best free apps that offer you a free report for your credit score and a full credit report summary for free. You can get monitoring alerts for new inquiries and receive your new credit information from TransUnion®.
In addition to the free credit report and free credit score, this credit monitoring free app also provides a number of tools for you to better understand your credit and what affects it. That’s why many people consider Mint credit monitoring the best credit monitoring app.
4. Credit Sesame
Report Pulled:
TransUnion®
Report Update Frequency:
Monthly basis
Credit Sesame offers different membership options, and the free membership grants you access to your credit score as well as your free annual credit report card all from your cell phone. This contains your credit report broken down in easy to understand terms.
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This free annual credit report card also highlights different tips and tricks to help you clean up your credit report and increase your score. Plus, Credit Sesame allows you to sign-up for a daily credit-monitoring alert and $50,000 in identity theft protection. That’s also why many people say this is the best app for credit monitoring.
Monitoring your credit report is important so you can be sure to dispute any discrepancies and detect any fishy or fraudulent activity.
