You can view your credit score online if you have a credit history that is at least six months old. These information are provided by both the main credit bureaus and third-party score provider. However, if you are unable to see your score, it's possible that there is a technical glitch or that your score is not being reported. This is not a problem and you won't be penalized.
Here are some reasons why your credit score isn't showing up.
There are several reasons why your credit score might not be visible. If you have just paid off a loan, it is possible that you have been subject to a hard inquiry, which temporarily lowers the score. Your score can be affected by a loan being paid off, especially if you have a less credit history. This is important since 10% of your credit score is determined by how old your accounts are. Therefore, repaying a loan can affect your credit score.
Another reason you can't see your credit score is that you don't have enough information on your credit report. Some lenders don't report account activity to all three credit bureaus, so the information on your report may not be accurate. Your score is not calculated on activity in the past and your credit history could be incomplete or outdated.
Technische glitches
Lenders will use credit scores to determine whether a borrower is a good candidate. But sometimes technical glitches occur that prevent lenders from viewing the data. Equifax, which is a multinational consumer credit agency, had a recent technical problem that affected more than a million consumers. The glitch led to higher interest rates and denials of loan applications. Despite its effects, the company corrected the problem.
Even though it is not ideal, you should contact your credit reporting agency immediately to get the facts. In recent years, several companies have suffered data breaches that compromised consumer information. Equifax exposed the financial history of 150 million customers in one such breach. The company settled for $700 million, and affected consumers were given four years of free credit monitoring and up to $125 in cash. Money asked Equifax for comment. It did not respond, however it recommended that consumers review their credit reports frequently.
Equifax has since corrected the initial problem but the Consumer Financial Protection Bureau may still be a concern. The bureau is now investigating the three largest credit-reporting firms. This glitch affected 2.5 million consumers in three weeks. Mortgage lenders typically view scores from all three companies.
Credit bureau error
If you believe that your credit report contains an error, you have the right to dispute it. You can contact the bureau to dispute it and get more information. The bureau might not be able to resolve your dispute in all cases and it may report the matter on your credit history. However, if you are not happy with the bureau's decision, you can dispute it again by providing additional information.
Most errors won't have an impact on your credit score. However, they may affect your ability later. To prevent any further damage, dispute an error on credit reports. While this may take some time, it is easy and free. You should immediately contact the bureau if you find any errors in your credit report.
If the credit bureau can't resolve the issue, you should contact the data provider. This is the financial institution that supplied the data to the credit agencies. Your credit report should list the data furnisher. Data furnisher has 30 days to investigate the complaint. They will have to remove incorrect information from the report if they find it.