How can I get my credit score in Quicken?
Your credit score is a 3-digit number assigned to you by the credit reporting agencies based on your credit history. It is in the range 300-850. Whenever you apply for credit, the bank reviews your credit score and decides how creditworthy you are. A good credit score can help you negotiate lower interest rates. Get your credit score to work in your favor.
How do I Register for credit score report?
To register for credit score report:
- Click the Credit Score tab in the Accounts Bar.
- In the Credit Score window, click the Get Started button.
- In the form, enter your personal details including your social security number. Click the Continue button.
- Answer the challenge questions. If any of the questions doesn't apply to you, select 'None of the above' from the list.
- Click the Get your free score button.
You have registered for the credit score report.
View my credit score report in Quicken
To view your free credit score report:
- Choose Reports > Credit Score.
- If you are new to Credit score, follow the instructions and register for Credit Score.
- If you are a registered user of Credit Score, the detailed credit score report will be presented.
- If it has been over a quarter since the last time you viewed credit score, the latest report would be generated and shown.
- If not, you can see the existing report.
If I register for Credit score report through quicken, will it affect my credit score?
No. If you get your credit report yourself or go through an agent such as Quicken, it's called a soft inquiry and it does not affect your credit score.
How often does my credit score get updated?
The credit score report is generated once a quarter. The 'Next Update' time on the top right corner of the report, will indicate the next time when your credit score will be updated.
What details would my free credit report have?
The free credit report would have the following details, apart from the score itself:
- Credit Usage: credit usage shows how much you spend on your credit cards as a percentage of your total available balances (your credit limits) for all of your credit cards. A high percentage could indicate that you don’t have your spending under control and could be a greater risk for defaulting on your payments. Try to keep your credit card usage under 30%.
- Payment History: payment history plays a critical part in determining your score. Making your payments on time shows potential lenders how reliable you are in paying back what you owe. Be sure to make all of your payments on time (even if it's just the minimum payment due), and remember that other types of credit payments such as those for student loans and auto loans affect your score.
- Age of Credit: the age of credit is the average amount of time you've had all of your open credit accounts. It measures the longevity of your credit history. Opening several accounts in a short period of time may indicate a great level of risk, so avoid opening lots of credit accounts unless you really need them. Be sure, also, to keep your old accounts open with a good payment history for each.
- Total Accounts: total accounts is the number of accounts you have, which may be an indicator of how creditworthy lenders think you are. Don't go crazy and open a lot of accounts, though, because the average age of credit is more significant than number of accounts when calculating your credit score.
- Credit Enquiries: credit inquiries is a count of all hard credit inquiries place on your credit report. What makes an inquiry "hard" is when you authorize a lender to get your credit report for their benefit, so they can evaluate you when you apply for a credit card, a loan, or other form of credit. If you get your credit report yourself or go through an agent such as Quicken, it’s called a soft inquiry and it does not affect your credit score.
- Derogatory Marks: derogatory marks are indications of poor financial behavior in the past when it comes to being responsible about credit. These include accounts in collection, liens, and bankruptcies – things potential creditors are definitely wary about. Sometimes things like this happen and they’re beyond your control but if you can, by all means do your best to keep these things from happening. No matter the reason, these negative marks will likely stay on your credit report for seven years or more.
Will my score – or any of the information that I provide to get my free credit score – be shared with other companies?
Your credit score – as well as the information you provide to get your free score – is confidential and isn’t shared with third parties.
Why do I need to provide my social security number?Is it secure?
Your credit score is tied to your social security number. Providing your social security number helps verify your identity and ensure that you receive the correct score and credit summary.
All of the information that you provide – including your social security number – is protected with bank-level security. Our practices are monitored and verified by TRUSTe and VeriSign and supported by RSA Security.
Where did Quicken get the questions/answers on the 2nd page of the Credit Score activation form?
The identify verification questions/answers on the 2nd page of the Credit Score activation form are pulled from the information that Equifax® has on file for your name and social security number.
What happens if I get locked out while registering for the credit score report?
It is possible that Quicken locks you out during registration, for security reasons. This happens if you enter incorrect information. Quicken may also lock you out if you attempts to register for the service too frequently. That said, there is nothing to worry if you get locked out. This doesn't impact your credit score, nor does it lock you out permanently. Please come back and try later..
Why does Quicken Credit Score return this message?
This message is returned when any of the data you enter does not match what Equifax® is expecting. This can also be returned when you have Fraud Protection or a lock on your credit. If you have either fraud protection or security lock, you will need to have that removed before Quicken can retrieve your credit score.
What if there’s an inaccuracy in the credit summary that I wish to dispute?
Because Quicken does not control the content of the credit report, you must contact Equifax® if you have a dispute. You can contact Equifax® directly by clicking the link at the bottom of the Credit Score page. When you click the "Contact Equifax®" link, a pop-up appears with information on how to contact Equifax® by mail or via their online dispute form, or you can use the information below:
Use the Equifax Online Dispute form or write a letter to Equifax describing the information you think is incorrect. Send copies of supporting documents if available.
Equifax Information Services, LLC
P.O. Box 740256
Atlanta, GA 30374