Here Are the Most Affordable Ways to Get a Comprehensive Credit Check

Knowing your credit score and understanding your credit history is one of the most valuable moves you can make in your financial life. Especially if you're about to apply for a home mortgage, car loan, or a new credit card, you should get a comprehensive credit check to make sure there are no errors, issues, or unpleasant surprises.

Your credit score is a reflection of your credit history. Banks, credit card companies, potential landlords, employers, and government agencies can all use your credit score to evaluate how responsible you are at managing money and your life. The American financial system uses your credit score as a measure of your reputation: how likely you are to pay bills on time, make rent every month, and show up for work.

With "good" or "excellent" credit, you can get lower interest rates on loans and qualify for higher limits on credit cards. With "fair" or "poor" credit, you can expect to pay higher interest rates on loans, get approved for lower credit limits, and possibly be denied credit, a job, or rental housing.

Many people don't understand their credit score, or get intimidated by the credit reporting process. But getting a credit check doesn't have to be a secretive mystery. As an American consumer, you have the right to know your credit score and see the credit reports that companies use to evaluate how financially trustworthy you are. Getting a regular credit check can also help you spot signs of identity theft, and avoid costly issues or misunderstandings.

Let's look at a few free (or low-cost) ways that you can get a comprehensive credit check and monitor your credit score.

1. Get free credit reports at AnnualCreditReport.com

Many companies and websites offer to give you free information about your credit score or monitor your credit history. But there is only one website that is officially authorized by the U.S. federal government, and it's called AnnualCreditReport.com.

This government-approved website gives you free credit reports every week from each of the three major credit reporting bureaus: Equifax, Experian, and TransUnion. If you want a comprehensive credit check, it's important to get credit reports from all three of these companies -- and not every credit monitoring service provides this. Start your comprehensive credit check with AnnualCreditReport.com.

2. Consider a credit monitoring service like CreditWise

CreditWise by Capital One is a free credit monitoring service that helps you manage your credit and monitor your overall credit health. It lets you see your credit score and track any changes -- whether that means "you just opened a new credit card" or "you borrowed money to buy a car" or "you might be a victim of identity theft or credit card fraud."

Click here to create a CreditWise account.

CreditWise also gives you information and personalized suggestions that can help you build credit and improve your credit score. Your credit score can change from day to day, based on how much credit you're using; such as buying a new TV for $1,000 with your credit card. CreditWise keeps track of these everyday changes and updates its recommendations frequently, so you can see the ongoing picture of your financial life.

The CreditWise Simulator is another great tool that lets you see the credit score impact of financial moves -- before you make them! It can show the potential changes in your credit score based whether you decide to pay off debt, open a new credit account, or make a big purchase. This Simulator can help you visualize the everyday effects of your money management, and stay on track for your financial goals.

CreditWise is not your only option for credit monitoring services, and it only tracks two of the three major credit bureaus. But it's free and it offers some fun, useful features. Other credit monitoring services might charge fees of $8.99 to $29.99 per month (or more).

3. Get credit monitoring from credit bureaus

Since the three major credit bureaus control so much sensitive data about people's financial lives, it's only fair that they should offer credit monitoring services too! You can sign up for credit monitoring with each of these three bureaus:

• Equifax: Equifax lets you lock and monitor your Equifax credit report with Equifax Credit Monitor™, a service that costs $4.95 per month. You'll get alerts about any key changes to your Equifax credit report.
• Experian: Experian offers free credit monitoring of your Experian credit report, including a free FICO® Score tracker. This credit monitoring service also offers a nice feature called Experian Boost® to help people improve their credit score by adding positive payments, such as phone and utility bills, to their credit history.
• TransUnion: TransUnion Credit Monitoring costs $29.95 per month. This service gives you frequent access to your TransUnion credit report, and alerts you to account changes or negative events like a missed payment.

Keep in mind that each of these credit monitoring services only tracks information from one credit bureau. If you want a comprehensive credit check that monitors all three credit bureaus, you should consider signing up for all three of these services.

Bottom line: Don't go into your next loan application, apartment hunt, or job interview flying blind. Getting a comprehensive credit check can help you assess your creditworthiness and address any problems or issues. And keep in mind that a credit check is not a one-time thing. Your credit is a constant work in progress. Signing up for credit monitoring services like CreditWise can help you make more confident decisions in your everyday financial life.