Q:Where can I get my credit score for free? A friend told me that a lot of the companies that advertise “Free” reports and scores, are not really free.A: Free of charge, once a year,
annualcreditreport.com will give you your credit reports from the three consumer credit bureaus. However, these reports do not show your specific credit score.
Unfortunately, there is no way to get your score for free without signing up for some sort of credit monitoring program.
For some straight talk about credit bureaus and credit scores and some options to get your score at a low cost, visit our special section on the subject.Labels: Credit Score, FICO Score
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Q:My FICO score is 530. I have two items in collections (one that's charged off) that I plan to pay off within 2 months. Will my score be higher within 6 months? I have a store credit card and make monthly payments on it every month.A:It's great you are working to improve your credit and will be able to pay off the two accounts on which you are delinquent in such short order.
Please make sure that the account that has not been charged-off does not get charged-off, keep making your payments! Unfortunately, the account that is charged-off will likely continue to show up on your consumer credit bureau for the next seven years and will effect your score. That said, paying it off is better than allowing it to remain unpaid. Finally, keep your store card up to date and don't miss any payments. If you do all of this, I would expect to see a modest improvement in the next six months or so. However, a charge-off is a very negative item and it will take quite a while before you will see significant improvement in your score.Labels: Bad Credit, FICO Score
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