Online access to your credit score is possible if you have a minimum six-month credit history. This information is provided by the three major credit bureaus as well as some third-party score providers. If you cannot see your score, it is possible that there has been a technical glitch, or that your score isn't being reported. This is not a problem and you won't be penalized.
Reasons why you can't see your credit score
There are many reasons your credit score may not show up. You may be temporarily lower your credit score if you have had a hard inquiry about your credit report. Because you have a shorter credit record, paying off a loan could also lower your score. This is significant because 10% of your credit score depends on how old your accounts are, so repaying a loan could lower your score.
A lack of sufficient information on your credit reports could also explain why you aren't able to see your credit score. Some lenders may not report account activity at all to all three credit reporting agencies. This could cause inaccurate information on your credit reports. In addition, your score is not calculated based on recent activity, and your credit history may be outdated or incomplete.
Technische problems
Lenders assess credit scores to determine if a potential borrower would be a good candidate for loan approval. Sometimes, technical issues can block lenders from seeing the data. Equifax is a multinational consumer credit reporting company. The latest glitch affected over 1 million people. It caused increased interest rates to be applied for loans and denied applications. However, despite the glitch's impact, the company has since corrected the error.
This is not ideal but you should still contact your credit reporting company immediately to find out the details. There have been a number of data breaches in recent years that have resulted in compromised consumer information. Equifax exposed 150 million Americans' financial records in one instance. The company settled for $700m. All affected customers were offered four years of credit monitoring free of charge and $125 cash. Money did not reach Equifax to request comment. However, Equifax does recommend that consumers monitor their credit reports on a regular basis.
Equifax has since fixed the initial problem, but the Consumer Financial Protection Bureau could still have problems with the company. The bureau is investigating three major credit reporting companies. The glitch affected roughly 2.5 million consumers over three weeks. Mortgage lenders typically view scores from all three companies.
Credit bureau error
You can dispute any error in your credit reports. You can do so by contacting the bureau in question and providing more information. Sometimes, the bureau may not agree with you and report it to your credit report. You can still dispute the bureau's decision by providing additional details.
Most errors won't impact your credit score. But they could limit your ability to get credit later. To prevent any further damage, dispute an error on credit reports. This process is free and simple, even though it may take some time. You should notify the bureau immediately if inaccurate information is found on your credit report.
If the credit bureau won't fix the error, you can try to contact the data furnisher. This is the financial institution which provided the data to credit bureaus. This should be noted on your credit report. You have 30 days for the data furnisher to investigate your complaint. They will have to remove incorrect information from the report if they find it.