Online Credit Score Calculator - Does Such A Tool Exist?

July 7, 2010 - PRLog -- For this reason, many use a credit score calculator, a tool that will determine ones FICO score. Many online agencies have these calculators available, and they are typically free to use.

Aurora Lillo Editor of the "Get MY Credit Report" website -- http://www.GetMyCreditReport.biz -- pointed out;


“...Have you ever noticed that your FICO rating is never exactly the same with each of the three credit bureaus? Well, there is a reason for this. Each of the three bureaus, Experian, Equifax and Trans Union use similar calculators as a means of determining your score. Your credit score will always vary slightly with each company. The more accurate the information you input into the calculator, the more accurate your results will be. The fact that the top three bureaus give different score results proves that these calculators are never 100% accurate...”

There are a number of factors that will determine a person’s financial rating. Credit history, bill payment history, outstanding debts and interest rates on credit cards are factors that determine a persons overall score.
These calculators can be used as a means of improving your finances if used as part of a strategic plan. For example, if you are planning to make a large purchase in the near future, having access to your rating will help you to be more mindful of your spending habits.

Many people are not aware of what their score is. This knowledge is essential, especially if you plan to eventually buy a home, purchase a car or open a business. Your credit history and score directly affect the interest rates that the bank will charge you on a loan. The lower your score, the higher your interest rate.

Keeping track of debts, paying debts off slowly and continuously monitoring your finances is important for anyone with a desire to be financially secure in the future. Although score calculators just give you an estimate, it is never to far off from what your actual rating is.

“...The numbers given should be used as a guide just as your report should be used as a guide. Use this information to get on the path to improving your finances...” added A. Lillo.

You can have your dream home, dream car and dream life. It all starts with your finances. Continuously monitor your credit score and work on improving it so that you can get on the path to improving your financial situation today.

Further information about how to get a detailed credit report including scores and as often as you want by visiting; http://www.GetMyCreditReport.biz