Nowadays, almost everyone is aware of just how important a credit score is. This is why more and more people are making sure to check their scores with the aim of improving it in preparation for a loan. Unfortunately, most people are detracted by the fact that most credit bureaus demand payment for it. As a result, there is an endless supply of debtors who are looking for ways to check their credit ranking for free. This is where Credit Karma free score review comes in, a site which provides accurate results without spending a single cent.
The process of monitoring credit is checking changes in your financial portfolio that could change your credit rating. For example, taking out new loans or increasing the charges on existing lines of credit both could change your credit score significantly. Monitoring credit can be a first alert of identity theft or identity misuse. Therefore, keeping an eye on your finances is a must. However, many people do not have the time or the tools to properly check their own finances.
If you read blogs and forums about credit repair and credit scores, you might notice the term FAKO being used in regards to some credit scores. Generally, a FAKO score is any credit score that’s not a FICO score. These FAKO scores usually disclaim that they’re for educational purposes and not the credit scores that creditors and lenders really use to process your application.