Credit.com offers a free service to “grade” yourself on your credit without the inquiry having to show up on your actual credit report. The ever-popular personal finance blog, Get Rich Slowly, proves the service is free and not a gimmick.

The service advertises a “soft inquiry” on your report using your Social Security number – the data requested and pulled from the credit agency TransUnion does not affect your overall credit score.

Too many inquires for a credit report can place a negative ding on your overall credit or FICO score. SmartMoney magazine has called the grading system as a service “presented in a format that even the least-savvy consumer can understand.”

Payment history (35%), debt usage (30%), credit age (15%), inquires (10%) and overall account mix (10%) are each individually taken into consideration and grading before dolling out a total mark, all using a scale from A to F and a plus and minus system. You are able to request a new “report card” every 30 days.

Using his grassroots methods that made his site famous, J.D. Roth of Get Rich Slowly signed up for the service and blogged his experiences. “The Credit Report Card isn’t earth-shattering,” said Roth. “It’s not a tool that’s going to revolutionize the way you deal with money. It is, however, a useful way to monitor your progress.”

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