Updated April 24th, 2015 – Each year, often in late-September, Quicken gets a complete overhaul. Sometimes the changes are rather minor while in other years the changes can make you fell like you’re using a completely new program. For 2015, one of the the most useful additions, (and our personal favorite!) is the free credit report that you can pull through the software. The credit report is provided by Equifax, one of the three US credit reporting bureaus (Experian and TransUnion are the other two agencies). And not only is it a $15.95 value if you were to pull it once directly from Experian, you can pull a fresh report for free every 90 days through Quicken 2015. Let’s take look at why you should take advantage of this new feature and how this works.
Why should I care?
Every one of us has a credit score and it ranges anywhere form 300 to 850. While it’s probably nothing you really think about on a daily basis, it’s an important rating that credit and banking institutions look at every time you apply for a new credit card, car loan or home mortgage. And mishaps you make today, like being late paying a bill, may stick with you from seven to ten years in your credit history causing you to either be defined for credit or having to pay higher interest rates.
When you keep an eye on your credit score, not only can you know what to expect the next time you apply for a loan, but you can also catch any errors that appear on it and fix it in time. It’s also an import thing to watch if your wallet has ever been stolen as crooks often try to rack up unauthorized charges under your name/social security number and leave you stuck with a negative credit history.
Your credit report contains a wealth of personal financial information. It includes your credit usage (that’s how much you spend on average on your credit card vs. the limits allotted by your creditors), payment history, how long your credit card accounts have been open, number of credit inquiries, and more.
How can I get my free credit score through Quicken?
For all Quicken Deluxe or higher users, you can access your free credit score directly from the software’s interface using these easy steps:
- Go to the Accounts Bar and Click on the Credit Score tab.
- In the new window, elect the “getting started” option.
- Complete the entire form in it’s entirely. You will need to provide your social security number, full legal name, birthdate, address, and some other details. Remember that it any of this information is incorrect, the credit report may fail.
- You’ll have to answer some questions to verify your identity.
- Select the “get your free score” icon and your credit score will be generated within about two minutes or less.
How often can I request it?
Your credit score changes all the time… usually every time you have a credit-worthy event. That’s why it’s good to check your score on a regular basis. Within Quicken, you’ll have the opportunity to run a new check every 90 days. However, you are limited to only one social security number for the free check per Quicken license so you won’t be able to check multiple people using the same program. Oh and remember that each credit agency has a different scoring methodology which may differ from your Equifax score (i.e. some lenders will use your FICO score).
Regardless if you have the 2015 version of Quicken or not, it’s also import to note that by law, you are entitled to one free credit report per year from each of the three reporting agencies – Equifax, Experian and TransUnion. Check out the Annual Credit Report website for details and to request your free copy.
Having difficulties getting your free credit report?
If you’re receiving an error when attempting to generate your free credit report through your 2015 copy of Quicken software, similar to the one below, then be sure that you are entering all of the required information correctly. If your social security number, name, address, or any other info is miss-typed, then the report will not generate.
If the info that you are entering is correct and you are still receiving an error, then try turning off mobile alerts sync. Some users have reporting that this may cause an error when running the check. You’ll be able to turn off mobile alerts under the Preferences section > Intuit ID > Delete Cloud data. Then log out and back in again and submit the info again under the Credit Score section.
We are here to help.
If you have any questions or need help understanding your Credit Score, then just leave your questions in the comments section below and we’ll do our best to help. Just don’t include any personal information as your comments will be posted publicly.