WalletHub: Personal Financial Advisor in Your Pocket

June 25, 2016

8:00 pm

If you are looking for tips such as the best cashback cards with an annual fee or cashback cards with no annual fee, you have various options: check every financial institution, ask your friend for a tip, ask Google (the “best friend” of some of us). But if you would like to find your credit score, you may want to use WalletHub’s recently released iOS app.

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WalletHub is a free app offering 100-percent free credit scores and full credit reports updated on a daily basis. After downloading the app, you’ll be prompted to create an account by providing personal information such as your address, date of birth, and the last four digits of your social security number. All that information is necessary for the app to locate your own personal credit report.

From that moment on, with WalletHub you get free credit score reports updated daily and personalized tips to improve your score, alongside free TransUnion credit reports on a daily basis and personalized savings alerts.

There is one thing, though, you should keep in mind while using WalletHub: the “real” credit score lenders and insurance companies use is impossible to access, and here is why: Sophisticated lenders use their own proprietary scores, which are usually based on publicly available scoring models but with in-house modifications, hence the results are slightly different than what outsiders may obtain with the usual model.

It is also worth adding that key FICO scores are available only to lenders, so consumers can’t obtain them. However, there is one important thing you should consider while using WalletHub: While you cannot get your hands on the credit score reports lenders use, it doesn’t really matter.

At the end of the day, your priority is to find a free and reliable option that gives as much access to your credit data as possible. The next step is to use that data consistently to have a basis for measuring growth. That’s where WalletHub can help you. In fact, it’s not just me, but Apple editors think it is helpful as well: WalletHub is featured by Apple as one of the “New Apps We Love”. So why wait? Download WalletHub for free from the App Store! An Android version is coming later in the summer, in August.

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Freelance tech journalist István Fekete covers the latest technology news and trends, such as mobile payments, Apple news and app reviews for multiple publications.

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