You can view your credit score online if you have a credit history that is at least six months old. The three main credit bureaus and some third-party score providers provide this information. However, if you are unable to see your score, it's possible that there is a technical glitch or that your score is not being reported. This is normal. You will not be penalized.
Reasons why you can't see your credit score
There are many reasons your credit score may not show up. For starters, if you have recently paid off a loan, you may have received a hard inquiry on your report, which temporarily lowers your score. Your score can be affected by a loan being paid off, especially if you have a less credit history. 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. Some lenders don't report account activity to all three credit bureaus, so the information on your report may not be accurate. Also, your score will not be calculated based upon recent activity. Your credit history may also be inaccurate or outdated.
Technische problems
Lenders use credit scores to decide if a borrower is a suitable candidate for a loan. 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. This led to increased interest rates and declined loan applications. The company has since rectified the mistake despite its impact.
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. Equifax revealed the financial histories of 150 million people in one data breach. The company settled the case for $700,000,000 and provided four years of credit monitoring to all affected consumers, as well as $125 in 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 now investigating the three largest credit-reporting firms. The glitch affected nearly 2.5 million consumers within three weeks. Mortgage lenders usually view scores from all three organizations.
Credit bureau error
You have the right to correct any errors in your credit report. Contact the bureau concerned and provide more details. In some cases, the bureau will not agree with your dispute and will leave it on your credit report. However, if you are not happy with the bureau's decision, you can dispute it again by providing additional information.
Most errors won't have an impact on your credit score. However, they may affect your ability later. To prevent any further damage, dispute an error on credit reports. While this may take some time, it is easy and free. Contact the bureau immediately if your credit report contains incorrect information.
If the credit bureau is unable to fix the problem, you may contact the data supplier. This is the financial institution who provided the data for the credit bureaus. The data furnisher should be included in your credit report. The data furnisher will have 30 days to investigate your claim. If they find that the information is inaccurate, they must remove it from your report.