How can i estimate my credit score? Many consumes often wonder what there credit score is. In truth there really is no way to know what your credit score is unless you actually pull a credit report. However there are some ways that you can estimate your credit score. Credit reports rely heavily on certain aspects of your credit history to determine a credit score.Estimating your credit score is like estimating your blood pressure: it is simple to know for sure and the potential cost of simply estimating either is great. There are plenty of online credit agencies to check your credit score through or you can simply make an appointment(on the phone, online or in person) with a mortgage professional for a free consultation.
Credit scores from the majority of consumer oriented credit report websites are often no better than a simple credit score estimate, as they differ greatly from the scoring models and data utilized by mortgage companies when qualifying you for a loan. Insist on a mortgage credit report from a mortgage company, and don't waste your money on a "free" consumer credit report.
You may think you want to estimate your credit score but that would be a bad decision. You credit score is available for free at websites like annualcreditreport.com. You should check your credit report each year to make sure that the information is correct.
Your payment history accounts for the highest percentage of your credit report, approximately 35% of your total score. Therefore, if the maximum credit score possible is 850 points, 35% of this would be approximately 300 points. So if you have a perfect credit history and you have never had any late payments, collections, charge-offs or judgments, you should roughly have around 300 points just for paying your bills on time.
