You Too Can Get a Free Credit Report The banks now a day, ask for the information of a special kind of rating from the aspiring applicants of credit. Credit score, as it is popularly known, is a kind of parameter used by the financial institutions, which is calculated on a mathematical basis. It is used in evaluating the potential risk that a moneylender might face in case he or she lends money to a person. Banks or other financial institutions that lend money usually requires the reports and go through them thoroughly before granting the loans to any person. Many banks or financial institutions issue free credit score that would help you in understanding your position of whether you would be granted any kind of financial assistance. The credit reference agencies gather the necessary information of the people like, mortgage (especially financial), credit cards, statement of bank accounts etc., and prepare these scores. Getting a high credit score will certainly ensure getting the loans quickly. In order to get a free credit report, you need to provide your date of birth, name, address and social security number to the financial agencies authorized to issue these scores. Generally, it takes about fifteen days for issuance of such type of card by the agencies. You will get a copy of it either through postal services or an electronic mail. These days, there are no less credit score providers over the web. Some offer free credit score, whereas some charge a minimal sign up fee. However, there are always certain motives behind providing these scores free of charge. It largely aids to the companyâ€™s promotion when more applicants sign up for such updates. As the popularity of loans grew, the necessity of being informed about an individualâ€™s score also became largely important. The credit cards were well used and well carried by the holders since its emergence, but as everything heads towards an alteration, so did the usage of credit cards and emergence of credit card companies. Generally, a consumer opts for a bank loan, in case the person is in need of a long-term proficiency. The credit bureaus have facilitated users with instant money for casual purposes, whereas the traditional banks still require numerous verifications and a considerably long period to hand over a loan sum to an applicant. The free credit score sites help you to determine the status of your credit.