The fact that humans live in a civilized and systematic environment, it has given way for new rules and protocols to be introduced for the overall betterment of human life. Humans are known to have the higher most strata of thinking, hence we are considered to be on the top among living beings. The process of planning for one’s future and unforeseen instances in life makes us as humans a step above others. In every step of being and existence, humans have preferred to plan ahead of any happening one expects or does not expect in one’s life.
Although one might prefer to live and breathe in an undivided world, the fact that the land we walk over is segregated in countries, states, cities, and towns. Retirement or better planning of a citizen’s life is an important part as an inhabitant of the state. It is the long-term responsibility of the state government to ensure that it’s citizen’s life is well planned especially after they retire as he or she is an active employee of the state.
One such social responsibility that is taken over by the state is the use of public money collected through taxes for the betterment of common life and each day as it is served.
There are several ways in which a government body can work towards collecting taxes from the public. This procedure is also dependent on the kind of employment one is into. The procedure majorly depends if a person is self-employed or employed by a third-party firm. The percentile that is mandatory for an individual is decided on the earning bracket he or she falls. As is dictated by a common rule throughout the world, the more a person earns, the more is the percentage of tax expected from them.
There used to be a time when a citizen would be singularly responsible for paying taxes at the end of a tenure; however, taking into account that modern life has made any and all members of the society busy with the mundane work life presents them, tax collecting has been made easier and the procedure more accessible.
For salaried individuals, collection is taken care of by the respective companies’ pay roll department, wherein the calculation of percentile is taken care of by the in-house income tax department.
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.