Knowing your credit score is important because it directly impacts your ability to access loans, credit cards, and other lines of credit.  It influences factors like interest rates, loan approval, and even your ability to rent an apartment.  A good credit score signifies your reliability to lenders and can lead to better financial terms when borrowing money.

Banks primarily use your credit score to determine if you qualify for a loan and at what interest rate, meaning a higher score can get you approved for better loan terms.  A good credit score can also open doors to better credit card options with rewards and lower interest rates. 

You can get a free credit report from each of the three major credit reporting agencies (Equifax, Experian, and TransUnion) once a year. You can also create a free account with Credit Karma or Experian to keep tabs on your score at any time.  

Online:

AnnualCreditReport.com: The only website authorized by the federal government to provide free annual credit reports 

Credit Karma: Provides free access to your credit report and score using information from TransUnion 

Experian: Generates credit scores and reports for individuals. It collects and analyzes personal information from a variety of sources, including the individual, creditors, and other entities.

By phone: 

Call 1-877-322-8228 (TTY: 1-800-821-7232)

By mail: 

Fill out the Annual Credit Report request form and mail it to: Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281

Understanding your credit report allows you to proactively manage your finances and detect areas for improvement to build a strong credit history.