E loans free credit score offer ends up with you getting a CreditXpert Credit Score. If you get your free credit score from Eloan, you will not be able to use this score to get a loan, or a credit card, or any type of credit, unless of course you try to use it Eloan. If you are shopping for a mortgage and not planning on using Eloan to get your mortgage you will still have to know your middle score.
Still Need All Three Credit Scores To Get A Mortgage
Mortgage lenders require credit to be pulled from all three credit bureaus. Just about any mortgage company will then look at your middle score of the three and use that score to help make their credit decision. If you only have two scores then they will use the lowest of the two. The Eloan free score from CreditExpert is not any of the credit scores that you get when you get your credit scores from Trans Union, Equifax, or Experian. Eloan uses CreditXpert as a service for consumers to use to improve their credit and ultimately their scores, but most credit offers and mortgages are still based on the middle score of the scores given by Trans Union, Equifax, and Experian.
Free Credit Report Does Not Mean Free Credit Score
If you sign up for a free credit score from Eloan you are taken through process that takes a few minutes and requires that you put in a credit card or an account number from a credit account that would be found on your credit report. They do this for verification purposes. Ultimately you are led to a screen that gives you one score. This score was from CreditExpert and was not a real score that I could use to get a mortgage.
As a mortgage professional, once I got to this screen I felt a little ripped off. I know that this score means absolutely nothing for getting a mortgage. I could only sit there and imagine how many consumers have been led down this path only to find themselves now staring at a screen, like I was, that required them to buy something if they wanted to see their real credit scores, or to take any action for tracking or improving their scores.
Eloan is a great company; they do good loans for people. However, do not be fooled by their free credit score advertising. Credit scores are not free. Eloan is not the only company out there advertising free scores, free credit reports etc. There are literally 1000's of sites that have these offers. Most if not all of these sites ultimately give you only part of the information you need to get the full view of your credit report or your credit scores.
Get Free Credit Report From AnnualCreditReport.com
There is one site on the internet where you can get your credit report from all three credit bureaus: Trans Union, Equifax, and Experian. This site is called AnnualCreditReport.com and it is the only credit report site endorsed by the U.S. Government through the FTC - Federal Trade Commission. But even at this site, if you want your credit scores, be prepared to ante up your credit card.
If you are looking to get your credit report with credit scores, you will have to pay for it. You shouldn't have to pay more than $45 for all three of your scores and <.b>full credit report. If you do run across getting charged more than this, don't pay it until you check out some more sites. You can find it cheaper. Eloans free credit score offer ends up presenting you with an offer to purchase your scores and full credit report for about this amount of money too. You can also sign up for credit monitoring and other credit and identity services too. Again, not unlike so many sites out there, just be aware of the free offer - nothing is really for free.
