If you’re planning to apply for a loan, you’ll want to consider your credit score first. A high score indicates that you make your payments on time. As such, lenders are more likely to offer you loans with lower interest rates, saving you money in the long run.
Reviewing your credit report will help you decide whether it’s the right time to apply for a new loan or if you still have to work on your score. One of the easiest ways to keep tabs on your credit score is with a credit score app. Let’s take a look at some of the best apps you can use for free.
Best Credit Score Apps
1. Credit Karma
Apple and Android users can check their credit scores using Credit Karma’s app. Though it’s free to download, you need to sign up as a member first, which is also free.
You can check your scores as much as you want, though the app will give you updates every week. Credit Karma also analyzes the factors determining your credit score, such as credit card usage and loan payments.
You might prefer Credit Karma if you want to track your credit reports and scores from Equifax and TransUnion—two of the three main credit reporting agencies in the US. But if you also want to check your Experian score, you’ll have to download another app.
Mint is a free money management service available on iOS and Android. You can link up and virtually monitor all your financial accounts on Mint, including:
- bank accounts,
- loans and mortgages,
- investment accounts,
- credit cards, and more.
The Mint app provides credit reports and determines your score using Equifax’s rating model. It also goes the extra mile by explaining what has affected the score and gives tips on how you can improve it.
Mint is an excellent choice if you want to overview all your financial data in one app. Seeing everything all at once could help you budget your money more efficiently.
Credit reporting company Experian also offers a free credit score app available on the Google Play Store. Some of the free Experian app’s features include:
- updated FICO credit score and credit report every 30 days,
- credit activity notifications, and
- personal information change alerts.
The app will also inform you of any factors that are negatively influencing your credit score, such as missing loan payments or high credit card balances.
If you have security concerns, Experian is a good option for you. The app can alert you to any suspicious activities, such as sudden score fluctuations. It will also immediately notify you if there’s a loan being processed under your name, which can help protect you from identity fraud.
If you want a service that’s entirely focused on credit monitoring, you might opt for CreditWise by Capital One. This credit score app gives a weekly score and reports updates from TransUnion, along with insights on factors affecting the score and how to improve them.
It also has a Credit Score Simulator feature, which lets you play out scenarios (i.e., increasing your credit limit or paying off debt by specific amounts) and how they might affect your credit score. This lets you decide whether to make certain financial decisions or not.
For extra protection, CreditWise also features dark web surveillance. It’ll scan the dark web, which is filled with many illegal hacker sites, for your email address and social security number and alerts you if they find it.
You don’t have to be a Capital One account holder to sign up for CreditWise. But if you are a cardholder, you can use your existing account to log into the app.
5. Credit Sesame
A free Credit Sesame account lets you check your TransUnion credit score and track your credit record. It will update your score every month and provide your credit history. You’ll also get tips for maintaining or improving your score, and the app will alert you of any credit activity.
One notable feature is its $50,000 identity theft insurance, which helps cover the costs of the documents and fees involved in recovering your losses.
While the app’s basic services are free to use, subscribing to their monitoring plans gives you access to hefty perks such as:
- credit reports from TransUnion, Equifax, and Experian,
- $1,000,000 identity theft insurance reimbursement,
- 24/7 consultations with live experts, and
- dark web monitoring.
Which Credit Score App is Right For You?
These apps each have their benefits to offer, so you’ll want to make sure that you choose the best free credit score app for your needs. What’s important is that you’re able to check on your credit score and take another step to improve your finances.