5 Things You Should Know About Your Credit Score

By now most people are aware of the importance of their credit score and the huge financial costs and hassles that a bad score can cause.

However, there’re still many misconceptions regarding credit scores. We spoke to one of the premier credit reporting services, about the most common mistaken beliefs that people have:

Checking my credit score can hurt my score

You may have heard that the very act of checking a credit score can have a negative impact on your score.  Its true – completing a credit application can actually reduce your score by 10 points each time.  However, using a service such as GoFreeCredit allows you to access your credit ratings without affecting your score.

I checked my score and everything looked good – so I am fine

You actually have three scores because there are actually three credit tracking agencies; Experian, Equifax and Transunion.  It’s possible that you have a different score with each, as any one of them may have received incorrect or detrimental information about you. You should always check all three of your credit scores as you never know which one your bank or credit card company will use.  Reputable services like will always check all three of your credit scores for you.

If I am a victim of ID theft, I will be notified by my bank or Credit Card Company

Unfortunately many victims of identity theft discover far too late that they are victims.  If a criminal uses your identity to take out a loan you may only find out when the creditor contacts you looking for re-payment.  However, regular monitoring of all your credit scores is a great way to immediately spot when someone is attempting to illegally use your identity so that you have a chance to stop the crime takes place.


My credit card company can’t cancel my card without warning

Unfortunately they can and increasing they do. More and more credit card companies are tightening their risk profiles and eliminating customers that deem too risky.  They often mail out a cancellation notice at the same time as they pull the card, leaving many consumers embarrassed to discover what has happened when they try to use the card at the register. Ensuring that any negatives on your account are corrected or removed will ensure this does not happen to you.


Checking and managing my credit ratings is a hassle


The good news is there is a quick and easy way to view your official credit report and credit score online instantly.  Start by visiting  The site not only lets you see your free credit report and credit score, but also offers a free 3 bureau credit monitoring trial. The service helps you keep an eye on your credit and protect against identity theft with instant alerts of any changes to your credit report or score.

So you can just sit back and let them do the work.