How does credit score affect loan application?

How does credit score affect loan application? || NeoDrafts

  • Author : Jasmine
  • Published : August 26, 2020

How does credit score affect loan application?

A Credit score check is substantial to determine eligibility in the loan availing process. A good credit score will assure the financial institution of your reliability to pay the debt off on time. Also,  the interest rates you pay or the loans you will get—all depends mainly on your credit reports. So, before you start off with fulfilling the documentation requirements, get a credit score check to fasten up the loan approval process.

Why Are Credit Scores and Reports important?

Your Credit Scores are either costing you money or saving you money. Good credit scores can be leveraged into great deals—on credit cards, on loans, insurance premiums and cell phone plans.

However, if your credit scores are on the lower side, you will be laced with higher interest rates when compared to those with better scores. The lower the credit score, the higher is the rate of interest you will pay towards your lending institution. Therefore, the importance of credit score is in the risk assessment of the asset or individual.

The mathematics and statistics involved in calculating credit scores and reports are complex. However, you can get a credit score check on Free Score 360; the website ensures you are armed with the right credit information before you start the application.

Why trust Free Score 360 for your Credit Score check?

Free Score 360 is a credit bureau that helps individual evaluate their credit scores. Also, you can check your scores on the website from the three major organizations— Equifax, Experian and Transunion.

At Free Score 360, you can learn everything necessary about credits that will save you thousands of dollars. You can start off with a free seven-day trial that features interactive tools and learning center. Moreover, you can have access to the ScoreSense Dispute Centre. You can earn how to correct errors on credit reports.

Start saving today with the 7-day free trial

With the 7 days free trial on Free Score 360, you will have access to Score Sense features like:

  • Daily Credit Monitoring and Alerts
  • Interactive Tools and Learning Centre
  • ScoreSense Dispute Centre

Moreover, after the seven-day free trial, you can upgrade to the monthly membership of $29.95 to have further access. 

To start the seven-day free trial:


Visit the Free Score 360 website. Click on check your credit score now. Provide the necessary details like First Name, Last Name, Address, Phone Number, Zip Code, the primary reason for checking credit scores. Click on Submit and Continue.


Furthermore, enter your social security number and date of birth. Agree to the terms and conditions which includes the confirmation for authorization for ScoreSense to obtain your credit profile. Click on continue.


Verify your identity through the social security number and check out if you have an insufficient credit history. Based on your earlier credit history, Free Score 360 will calculate your credit score.


View your finalized credit score from renowned credit bureaus like Equifax, Experian and Transunion. Check ScoreSense to know how to correct errors on credit reports that can affect your scores.

Free Score 360 has interactive tools and learning center to help you get a better understanding of the impact of your credit. You can even learn what actions affect your credit scores. So, before you start on with the loan application process, make sure you get a credit score check. A good credit score will ensure you save money on interests you will pay towards the lending institution. Furthermore, a credit score check will fasten up the loan approval process. So, visit Free Score 360 and get free your score today. Hurry up, don’t wait.

For more information, kindly visit our official website –

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