How To Check Your Credit Score For Free
Before you purchase a home or investment property you want to check your credit score. I’ve recently found a way you can do this for free.
Do These 6 Things Before Applying For a Mortgage – https://www.youtube.com/watch?v=4N8YjMF0SB4
If you’re looking at purchasing your own home or an investment property, one of the first things you should do before speaking to a mortgage broker, or a bank is to go online and check out your credit score and see if there’s any problems or issues with that, which could stop you from getting your loan approved, checking your credit score is super easy.
And I just found a new service a new way to do it, that is free. And it only takes one or two minutes in order to get your credit score. And the application process is just super simple.
So here it is. It’s called credit savvy, you can check it out at credit, credit savvy.com.au. Or you can click my link in the description down below, if you want to go through that. And basically, this was recommended to me by my bank. So I logged into my bank comm with Commonwealth and it had a little pop up that said, check your credit score. So this actually came as a recommendation from one of the big four banks. So I went over here decided to sign up,
I signed up with Google. Now I’ve already signed up. So I won’t go through that process. But all it asked me was I used my Google account. And then it asked me for my ID. So my driver’s license. Now, I didn’t have to put in a photo of my driver’s license, I didn’t have to wait for approval, all I had to do was put in my driver’s license number, and I was able to login instantly and get my credit scores right straightaway.
So the whole process took maybe a minute. And so let’s go ahead, and I will log into my account now.
And you can see what it looks like. So when you log in, you’re brought to this dashboard, which straightaway shows you your credit score, we can see that my credit score is 745, which apparently is very good. If we scroll down here, this is obviously how the site makes money is from recommending home loans and things like that.
So they’re saying with your credit score, you can get this online. And then if you go to Lynda, I’m guessing they get a commission for that. But let’s go ahead and track our scroll, view our credit score. And we can see that here I am very good. And we can also see the breakdown of our credit score here.
And any issues that we may have would appear in here. Now my credit score has nothing on it, which I’m guessing is a good thing. If we go to credit score factors as well, that allows us to see how we stack up to the rest of the country. So the average credit score, remember, is here at 695, on hire at 745.
So that’s a good thing. You can also track your score history. So six months, 12 months, 24 months, and you can see if it changes over time, but yeah, really this credit report summary, this allows you to look through and see if there’s any issues or bills that you didn’t pay on time.
And so the idea here is that if you have issues, that’s going to come up in your loan application process, so the banks are going to see that. So when I talked to Michael from mortgage broker Sydney, about things you should do before applying for a loan, he brought up looking at your credit score.
And if you have any issues on there, when you apply for the loan, give a reason for that issue on your credit score. Because if you’re upfront about that, if you have a reason for it, then you can still get your loan approved.
Obviously, it depends on the bank, the lender, your mortgage broker, etc. But there’s a better possibility of getting your loan approved if you have an explanation for that problem with your credit score versus just putting it in and not mentioning anything about it at all.
So this is it credit savvy.com.au super easy to use, super easy to sign up. Great way to track your credit score for free online, and I’m absolutely loving this service.