Daily Savers Club is always looking out for the best tools online to help people save money. Wherever possible free tools are recommended though sometimes paid services do provide great benefits. However a great new free service has been released to help with personal finance management. A new website has been launched to help Australians better understand their credit score. The site, called GetCreditScore offers a free service for individuals to obtain their up-to-date credit score. Previously the only other option has been to use other sites that charge credit score service fee.
Um, What is a Credit Score?
Firstly before going further, what is a credit score and how does it affect you? When applying for any loans or credit a common reference point for any bank or lending institution is your individual credit score. Your credit score will be three digits long and the higher the score the better. This will allow you greater power when it comes to borrowing either larger amounts or at a lower percentage rate.
GetCreditScore Now Offers Free Credit Scores
Backed by peer to peer company SocietyOne, GetCreditScore now offers users the opportunity to obtain their credit score for free. Traditionally there has been a fee charged by other providers of such a service which put many people off obtaining their latest credit score. Upon going live in early September the site has received an overwhelming response. At one point the site crashed due to receiving too many user visits! The site has since had its service restored and no doubt has had improvements made so it does not crash again.
The founders of the website hope to empower consumers to better understand their credit position to better negotiate with banks and other lending institutions. Visit GetCreditScore today to understand your credit score and help you take better control of your personal finances for free.