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How to Buy Credit Scores

by Caroline Tung Richmond

Overview

A credit score is a three-digit number that represents the likelihood that you will pay your bills and repay your loans on time. This number is determined from your credit report, which is provided by one of three main credit bureaus (Experian, TransUnion, and Equifax). A high credit score means you will qualify for more loans and pay lower interest rates. A low score means you will not qualify for most loans and will pay higher interest rates for the loans you receive. To check your credit score, you can purchase your score from a variety of websites.

Step 1

Understand the differences between credit scores. There are four different types of credit scores: FICO, VantageScore, TransUnion's TruCredit score, and Experian's PLUS score. Each of these scores measure your creditworthiness, but they use different formulas and point systems to calcuate your score. Out of these four scores, the FICO is the most widely used by lenders. VantageScore, on the other hand, is used the least since it is the newest scoring system. This information is true as of 2009.
Step 2

Buy your FICO credit score. According to Evan Hendricks, the author of "Credit Scores & Credit Reports: How the System Really Works," consumers should buy their FICO score if they only want to buy one credit score. Visit Equifax.com or myFICO.com to purchase your score. For both websites, you must create an account with a user name and password. Provide your legal name, date of birth, Social Security number, email address, current address, and phone number. Type in your credit card information to authorize payment. (See "Resources" below.)
Step 3

Consider buying your TransUnion TruCredit score and Experian PLUS score. Since lenders may look at your FICO score and your TransUnion and Experian's scores, you may want to buy these two scores as well. To purchase your TransUnion score, visit TransUnion.com. Create an account with TransUnion and provide information on your legal name, date of birth, Social Security number, email address, and current address. Provide your credit card information to buy your score. To purchase your Experian score, visit Experian.com. After you create an Experian account, type in your legal name, date of birth, email address, current address, phone number, Social Security number, and mother's maiden name. Type in your credit card information to finalize the pruchase. (See "Resources" below.)
Step 4

Consider buying your VantageScore. Although VantageScore is not as widely used as the other three scores, you may want to view your score in case your lender looks at this score too. You can purchase your VantageScore from Experian.com. You will be asked to provide your legal name, date of birth, Social Security number, and current address. (It is optional for you to provide your employer's name and address.) Then the site will ask you a few questions to verify your identity; answer the questions to the best of your ability. Once your identity has been verified, type in your email address, mother's maiden name, phone number, and credit card information to purchase your score. (See "Resources" below.)

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Social Security Number Email Address Current Address Home Phone Number Mother's Maiden Name Valid Credit Card Employer Name and Address (optional)
Social Security Number
Email Address
Current Address
Home Phone Number
Mother's Maiden Name
Valid Credit Card
Employer Name and Address (optional)
If you want to raise your credit scores, you should pay your bills on time, correct any mistakes on your credit report, and pay off your debt. Under the Fair Credit Reporting Act, you are guaranteed to receive a free credit report from Experian, Equifax, and TransUnion every twelve months. Visit AnnualCreditReport.com or call (877) 322-8228 to request your free report. (Your free report does not include your credit score.)
If you want to raise your credit scores, you should pay your bills on time, correct any mistakes on your credit report, and pay off your debt.
Under the Fair Credit Reporting Act, you are guaranteed to receive a free credit report from Experian, Equifax, and TransUnion every twelve months. Visit AnnualCreditReport.com or call (877) 322-8228 to request your free report. (Your free report does not include your credit score.)
If you want to apply for a loan, do not open any new credit accounts during your application process. Creating new accounts will lower your credit score since you do not have a proven track record yet of paying your bills.
If you want to apply for a loan, do not open any new credit accounts during your application process. Creating new accounts will lower your credit score since you do not have a proven track record yet of paying your bills.