You can view your credit score online if you have a credit history that is at least six months old. This information can be accessed online by all three credit bureaus, as well third-party score providers. If you cannot see your score, it is possible that there has been a technical glitch, or that your score isn't being reported. This is normal. You will not be penalized.
Reasons why you can't see your credit score
There are several reasons you may not be able to see your credit score. You may be temporarily lower your credit score if you have had a hard inquiry about your credit report. You may also have a shorter credit history, which can cause a drop in your score. This is important because 10% is determined by the age of your accounts. So paying off a debt can reduce your credit score.
Another reason you can't see your credit score is that you don't have enough information on your credit report. Because not all lenders report account activity directly to the credit bureaus, your report may be inaccurate. Your score is not calculated on activity in the past and your credit history could be incomplete or outdated.
Technische problems
Lenders will use credit scores to determine whether a borrower is a good candidate. Sometimes, however, technical glitches can prevent lenders viewing the data. Equifax, a multinational consumer credit report agency, experienced a glitch that affected more than one million customers. It resulted in increased interest rates and denied loan applications. Despite the impact of the glitch, the company has since fixed it.
This may not be ideal, but you should immediately contact your credit report company to find out what happened. In the last few years, there have been numerous data breaches by companies that have exposed consumer information. In one of them, Equifax revealed 150 million people's financial history. The company settled for $700m. All affected customers were offered four years of credit monitoring free of charge and $125 cash. Money did not reach Equifax to request comment. However, Equifax does recommend that consumers monitor their credit reports on a regular basis.
Although Equifax has fixed the initial glitch, the company could still be in trouble with the Consumer Financial Protection Bureau. The bureau is investigating three major credit reporting companies. The glitch affected nearly 2.5 million consumers within three weeks. Mortgage lenders typically view scores from all three companies.
Credit bureau error
You have the right of disputing your credit report if you feel it contains an error. By contacting the bureau responsible and providing additional information, you can dispute your credit report. Some bureaus will not accept your dispute and may leave it on credit reports. You can still dispute the bureau's decision by providing additional details.
Although errors are unlikely to affect your credit score, they can affect your ability in the future to get credit. To avoid any more damage to your credit score, you can dispute any credit errors. This process is free and simple, even though it may take some time. If your credit report contains inaccurate information, you should contact the bureau as soon as possible.
If the credit bureau won't fix the error, you can try to contact the data furnisher. This is the financial institution that supplied the data to the credit agencies. This should be noted on your credit report. The data furnisher will have 30 days to investigate your claim. They will have to remove incorrect information from the report if they find it.