Advertisement
Canada markets closed
  • S&P/TSX

    22,167.03
    +59.95 (+0.27%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CAD/USD

    0.7379
    -0.0007 (-0.10%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • Bitcoin CAD

    95,003.00
    -897.00 (-0.94%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • RUSSELL 2000

    2,124.55
    +10.20 (+0.48%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • NASDAQ

    16,379.46
    -20.06 (-0.12%)
     
  • VOLATILITY

    13.01
    0.00 (0.00%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • CAD/EUR

    0.6839
    -0.0004 (-0.06%)
     

Best Apps for Your Credit Score

It used to be difficult to get your hands on your credit score. But now, you almost can't avoid it.

Multiple websites urge you to check out their free scores. Depending on what credit cards you have, you might be able to view your score on your monthly statement. Your bank might even email you to say you can view your credit score online. Some of these are educational scores, but some of these are FICO scores, which is the credit score used by 90 percent of lenders.

The focus on credit scores -- most especially, free ones -- might influence how many people now check their scores. A survey by the Consumer Federation of America shows that 57 percent of consumers checked at least one credit score in 2018. This is up from 49 percent in 2014, so this looks like a positive trend.

Many of us are fairly addicted to our smartphones, so why not use a credit score app to get updates? It's convenient, and in many cases, you get much more than just your score.

ADVERTISEMENT

So, let's take a look at some of the best apps for your credit score. All of these apps support both Android and iOS. And using these apps to check your score does not make your score go down. So, feel free to check your credit score with abandon.

[Read: The Best Airline Credit Cards of 2018.]

Mint: Budget, Bills, Finance

This is a free online money management tool that's been around since 2006. In 2009, Mint was acquired by Intuit, so that's why you often see the two names together.

Mint has an easy-to-use app that includes a credit score as well as options for creating budgets and setting goals. Seeing the big picture can help you make better money decisions. It's great to see your score, but it's also useful to see why your score might be low.

"Being able to see all of your money in one place helps you understand your spending habits, keep your eye on financial goals and spot trends you may not be aware of, like how much you spend on coffee or takeout," says Keri Danielski, head of communications for Mint & Turbo.

Credit score version: Mint uses the Equifax Credit Score model.

Premium version: The Mint Credit Monitor shows your credit score but also gives you an Equifax 3-Bureau Credit Report, and it's $16.99 per month. Unless you're going through a divorce with a vengeful spouse or have had identity theft issues, don't spend your money on this. Enjoy the free version and keep an extra $16.99 in your monthly budget.

CreditWise from Capital One

You don't have to be a Capital One cardholder to use this tool. You can set up an account on the CreditWise site if you're a current cardholder, or you can download the app from Google Play or the App Store.

One cool thing about this app is the Simulator, which has become a more common feature with other credit score apps. This feature lets you see how your money decisions affect your credit score. While this isn't an exact science, it can give you a general idea of what might happen if you go on a spending spree with your credit cards and raise your utilization ratio.

Credit score version: You'll get a weekly VantageScore 3.0 credit score from TransUnion.

Discover Credit Scorecard

You don't have to be a Discover cardholder to use Credit Scorecard. As with CreditWise, you also get to see data about how the different factors are affecting your score -- for example, your credit utilization, new accounts and so on.

Credit score version: You'll get a monthly FICO Score 8, and the score is based on information in your TransUnion credit file.

[Read: The Best Balance Transfer Credit Cards of 2018.]

Credit Karma

Credit Karma has been around since 2007 and is one of the many websites that began offering free educational credit scores around that time. You get a credit report card, which shows you how you rank on the different factors that go into your score.

Credit score version: You get a VantageScore 3.0 credit score from TransUnion and Equifax.

MyCredit Guide from American Express

You're looking at data on a mobile-optimized website, so it's not technically an app. But it's another free way to check your credit score via your smartphone.

You can enroll in MyCredit Guide even if you aren't an American Express cardholder. You get a variety of useful information, including email alerts when critical changes occur in your TransUnion credit report.

Credit score version: You'll get a weekly VantageScore 3.0 that is based on the information in your TransUnion credit file. Plus, there's a score simulator that shows you how your money decisions impact your credit score.

And in the interest of being thorough, here are two premium services for those who want a more comprehensive approach to their credit life. But do make sure you have a real need for this information before you add it to your monthly budget.

Experian CreditWorks Premium

There is a free version, CreditWorks Basic, but it doesn't include a credit score. If you feel you need a complete package that includes credit monitoring, Experian's CreditWorks Premium version might appeal to you.

"Consumers can see the positive and negative factors that are helping and hurting their FICO score, along with additional FICO scores for credit cards, home and auto loans," says Sandra Bernardo, senior manager of Consumer Education for Experian. "This version of the app also includes Experian's patented interactive credit summary wheel, which shows the five key areas that make up the consumer's score, as well as the FICO Score Simulator tool and the CreditLock feature."

The service is $4.99 for the first month and then $24.99 per month after that.

Credit score version: Your Experian credit report and FICO Score 8 are updated daily. You also get credit scores and reports from TransUnion and Equifax.

[Read: The Best Cash Back Credit Cards of 2018.]

myFICO.com Mobile App

This isn't free, but it does offer a lot of information, including your FICO scores, of course. You have to subscribe to one of its services to get access to the myFICO app. There are three products to consider, but unless you're overly anxious about identity theft, you can make do with the 1-Bureau Credit Monitoring FICO Basics 1B, which is $19.95 per month.

For that price, you get instant access to your Experian credit report and monthly credit score updates.

Credit score version: You get a FICO Score 8, which is often used by credit card issuers. You also get other FICO scores that are used for mortgages and auto loans.

Take Your Time Choosing an App

You might decide you need one of the paid versions to stay on top of things, but if a free version does the trick for you, then all the better. But don't just jump on the first app listed here. Take your time to check out the best apps for your credit score and see what feels comfortable for you.

It doesn't matter which app you use to access your score. The important thing is that you check it at least monthly. According to a 2016 survey by the National Foundation for Credit Counseling, 36 percent of consumers saw no reason to know their credit scores.

Well, there are plenty of reasons to know your credit score. You want better interest rates? You'll need a high score for that. An excellent credit score takes time to build, which means you can't wait until you're ready to apply for a mortgage to start caring about it.

So, whip out your phone -- if it isn't already in your hand -- and check your credit score to see where you stand. It's easy and it can be free.



More From US News & World Report