FAQ: Is it helpful for a consumer to purchase their credit score?
Probably not. While it is very important for consumers to access their three credit reports every year, it is not as helpful for them to purchase their scores.
- First, the score is very expensive to the consumer -- ranging between $8-$16. A business pays between $0.25-$3.00 for a score.
- Second, there are thousands of scores. There are consumer scores, mortgage scores, vehicle scores, etc. The score a consumer purchases is not going to be the same score their lender purchases.
As such, many nonprofit practitioners encourage their clients not to purchase scores directly, but to wait until they are working with a specific creditor. However, in some cases it can be helpful for a consumer to purchase a score as a baseline to start building credit.
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