Having a checking account has become a necessity these days. You simply can’t do without one. It is also very easy to create;, you can even go online and open a free checking account. Be it for the protection of your money or for managing your finances, it is important to get a checking account.
These accounts are suitable for a student account, joint account or business accounts.
What a checking account lacks is good interest rates. You either get very low interest or no interest at all whereas in savings account you have high-interest rates.
Several banks offer to open totally free checking account and there are numerous websites as well that allow you to open totally free checking account online.
Before You Open A Checking Account
The first thing you need to consider are the fees. You will have to pay overdraft fees for every single transaction. You will also have to pay service charges for not maintaining a minimum balance, writing too many checks, and other reasons.
Checking accounts allow for Electronic Fund Transfer; this means that help can come to you immediately when you are in need.
You have to be cautious while using ATMs of banks other than your own; you may be charged some surplus amount.
The Benefits Of Opening A Checking Account
Manage Finances
This is the biggest advantage of a checking account. You can keep a tab on where your money is going, and plan your budget accordingly. You can also stay up-to-date with your monthly expenses with your bank statements.
Available Everywhere
Checking accounts are available almost at all banks. Some banks also offer a free checking account. It is very convenient to open one. Banks also give you an opportunity to open online free checking accounts.
Safe And Secure
Having checking accounts assures the safety of your money. If you carry around a large amount of money, there is a huge risk of losing it. There is also a chance of your money being stolen.
Insured Accounts
All the banks that offer checking accounts are insured by the Federal Government. This means that you will get your money back no matter what.
Debit Card
You are usually provided with a debit card when you open a checking account. You need not carry cash all around, and you can pay for your online purchases.
Given these benefits, it’s easy to see why practically everyone today seems to own a checking account. If you don’t, it’s about time you did!
There are companies that work on collecting and maintaining credit information of consumers. These are known as credit reporting agencies (CRAs). There are three such major CRAs in the country, namely Equifax, Experian, and TransUnion. Apart from these, there are other smaller-scale agencies too that specialize at the job. If you’re worried about “where to get my credit score?,” the larger CRAs are the most reliable bets.
These major CRAs obtain information from companies that you hold business and transactions with. People or companies that lend you money regularly report to these CRAs on your repaying status. There is also detailed information on the amount you are indebted and whether you have ever defaulted on your payments. Aside from the reports obtained from lenders, these companies also tally your general records based on certain other aspects. Some of these aspects are your public records from the local and state judiciary. These include your tax records and bankruptcy information. This information makes up an important chunk of your credit score and its report.
Equifax
Present in 24 countries, Equifax is an agency that offers consumers protection against identity theft and credit fraudulence. They also sell credit reports and credit monitoring assistance to businesses.
Experian
Experian started off in London and is now a trusted agency in 39 different countries. It provides you with a credit score, credit report, and even credit tracker on subscription. The agency uses FICO 8 system of credit score calculation. Experian was a part of Forbes’ “World’s Most Innovative Companies” in 2018.
TransUnion
Based across 30 countries with a database of over 1 billion consumers, TransUnion is another CRA giant. The agency, like the other ones, will provide you with your credit score and your credit reports. In case you decide to freeze your TransUnion credit report, it will also go the extra mile to notify Equifax and Experian, which frankly is a big help especially in case of identity theft and credit fraud.
So, the next time you are sat wondering “where to get my credit score?,” think of these three giants that provide you with an annual credit score and credit report for free once each year. However, if you are looking for more frequent updates, you can subscribe to their services and receive your monthly updates.
Did you know that you have more than a single credit score? Agencies calculate your credit score based on the data in your credit reports. If you are wondering, “where to get my credit score?,” there are three main credit reporting agencies. These can have different credit scores for you if your information on each of their credit reports is different. Also, these agencies charge a fee to reveal your credit score.
Recently, it has become easier to track and get hold of your credit score without paying any fees. You can get it from your credit card company, your loan provider, and even from a non-profit counselor. Here are a few tips you can use to check your score.