Best Apps to Increase Your Credit Score in 2021
One of the most important metrics you can use for your finances is your credit score. While your credit score isn’t exactly an exact measure of how well you manage money, it is a number used by financial services companies to gauge your ability to manage credit and debt.
With a good credit score, you end up paying less when you get a car or home loan, and you can benefit from better credit card deals as well. On top of that, in some states, your credit score can potentially impact your auto insurance premium.
If you want to improve your credit score, it can be helpful to use an app to identify issues and track your progress. Here are five apps designed to help you improve your credit score.
Overview: The Best Apps to Increase Your Credit Score
|Experience boost||Free (with paid service options)||Immediate increase in your credit score|
|Self||Administrative and financial costs||Create credit from scratch|
|Credit Karma||Release||Low cost follow-up and recommendations|
|myFICO||Monthly plans: $ 19.95, $ 29.95, $ 39.95||The three reports and scores|
|TransUnion||$ 24.95 per month||Track and lock your credit as needed|
5 of the best apps to increase your credit score
1. Experience boostMT
With Experian, you go directly to one of the sources. Experian is a credit reporting agency and offers a product called Boost, which is designed to give you a little nudge in the right direction, including helping your Experian credit score by looking at some of your recurring bills, such as rent. and your gym membership. *
The Experian score is based on information from your Experian credit report and uses FICO 8 to determine your score. In addition to offering an overview of your credit situation, you can also view a dark web analysis to see where your personal information has been compromised on the web. Use Experian Boost ™ by connecting a bank or credit card account, then the app will look at your spending habits to identify rent, insurance payments, and gym memberships. Regular payments of these items can help improve your Experian credit score.
However, it’s important to note that Experian Boost doesn’t work with all banks and financial accounts, so you might not get the boost you expect. Experian offers a free basic account, including a Boost, although you can add credit monitoring and other products at a cost.
* Results may vary. Some may not see improvement in scores or chances of approval. Not all lenders use Experian credit files, and not all lenders use Experian Boost impacted scores.
Visit Experian Boost or read the whole Experian Boost review
One of the most active ways to increase your credit score is to Self (formerly auto-lender). The idea here is that you can build a credit history – while also putting money aside in savings. With Self’s Credit Builder Account, you are essentially creating a situation where you are making monthly payments that are reported to the credit bureaus. At the end of your term, you are rewarded with a CD.
Plans with Self start with a commitment of $ 25. However, you have to pay administrative fees and finance charges. This can be an ideal account for someone who has no credit and is looking to build. Plus, it’s a bonus that most of the money you pay goes into a CD which is used for your own benefit. It encourages you to save while building your credit.
Visit yourself or read the whole Self evaluation
3. Credit Karma
Credit Karma gives you access to your TransUnion and Equifax consumption scores, based on VantageScore 3.0. With Credit Karma, you can see the actions on your report that are contributing to your credit score and examine the negative items to see if they should be disputed or flagged as fraud.
In addition to providing score information, Credit Karma recommends different actions you can take to potentially help increase your score. This includes showing you how different actions have a potential impact on your credit score, as well as recommending products and services that could have a positive influence on your score. You can use Credit Karma to track your progress and even get special tips designed to help you progress.
Using Credit Karma is free, although the company does receive a bribe if you sign up for products and services through its site.
Visit Credit Karma or read the whole Credit karma review
The Fair Isaac Company is often regarded as the premier credit rating provider. When you go to myFICO, you have access to your FICO scores. However, there is no version of myFICO. The cheapest access costs $ 19.95 per month and only includes your Experian credit report.
If you want to access all three reports and scores from your credit bureau, you have to pay $ 29.95 per month – and your scores are only updated every three months. For monthly scores updates from all three offices, you have to pay $ 39.95 per month.
However, this has the advantage of seeing different types of scores, including those that might be considered for auto loans or mortgages. You can also get identity theft insurance, credit monitoring, and identity theft insurance. With myFICO you get detailed information about your score and what drives it down. You can use this information to make changes and improve your credit score.
Visit myFICO or read the whole MyFICO exam
This is another credit reporting agency that offers credit monitoring tools and access to your report and score. TransUnion offers its score based on VantageScore 3.0 and costs $ 24.95 per month. When you pay this price, you have access to daily updates of your report and score. Plus, it’s easy to lock your credit when needed (and that includes locking your Equifax report), and you get identity theft insurance.
TransUnion also offers CreditCompass, which can help you with recommendations to improve your credit score and your finances. TransUnion also uses a credit score simulator, which can show you how making different moves can help (or hurt) your credit score. If you are wondering how different scenarios might play out, TransUnion can be a valuable tool.
Read the whole TransUnion exam
Your credit scores are based on the information in your credit reports. Because each credit report is a little different, your scores will also be different. Also, different adjustments are made using different scoring models, which may result in a different score. In fact, the score you see with an app may not be the same as that used by a lender.
The best way to maintain a good credit rating is to make all of your payments on time, keep your debt levels relatively low, and use credit wisely.
Different scoring models are different, but in general the FICO scoring model is based on your payment history (35%), credit usage (30%), length of your credit history (15%), recent credit (10%) and your credit mix (10%).
How we created this list
When determining this list, we took into account different types of consumer credit rating websites, taking into account various features that might work for different financial situations and circumstances. Chances are, you’ll find something on this list that will meet your needs.
Related: Credit Boost Tips You’ve Never Heard Of
Your credit score can be an important part of your financial situation. While these consumption scores may not correspond exactly to what a lender would use, they can give you a rough estimate of what to expect and help you track your progress.