We all know the importance of having a good credit score.
A healthy credit rating can help you to get a cheap mortgage, to buy a new car, to get a good mobile phone contract and the list goes on and on.
As consumers have become much more aware of the importance of understanding their credit score, credit reference agencies and the financial industry in general have responded by using technology to help consumers out in this regard.
Respected financial comparison website TotallyMoney, for example, recently launched their own credit score & credit report service, which allows users to see their credit history and score for free with no ongoing monthly costs involved.
But what makes this credit report service any different from the rest of those out there on the market already? Here are a few important features to consider.
It’s Free to Use
The first important feature of the TotallyMoney credit report service is that it is totally free to use! There are no monthly subscription fees to pay and you will not be charged any other fees for using the service.
This means you can start using the service right away, without the worry of having to cancel your subscription before the end of some kind of free trial period.
While free access to your credit report and credit score may not be completely unique to the market, live reporting and updating is.
At the time of writing, they are the only free credit report service to offer real-time reporting, meaning a customer’s score and report are updated each and every time they log in, based on any new credit data that has been added to their file.
No Credit Card Required
As there’s no monthly fee involved with using the free credit score service, they also don’t require you to input any credit or debit card details when you sign up either.
This means you don’t have to worry if you are wary about entering these kind of details online.
See Your Borrowing Power
Knowing your credit score is one thing, but seeing how this relates to the amount you can borrow and which lenders will be likely to approve you as a borrower is quite another.
The TotallyMoney Credit Report will help you to see more clearly where you stand in the eyes of lenders and it will even match you with lenders who will be more likely to accept your application for credit.
This will prevent you from damaging your credit score by applying to several different companies, only to be rejected for credit.
The company will also send out notifications to customers as and when their credit score changes/improves, to alert them to new financial products that they may now be eligible for.
As we can see then, TotallyMoney’s credit report service offers some unique and useful features to help customers understand and make the most of their credit score, and best of all, it’s totally free to use. Seems like a bit of a no-brainer, really.