Archive for the ‘Free Credit Reports’ Category
Do You Have Healthy Credit?
Posted by: admin in Free Credit Reports on March 12th, 2009
In case you didn’t know, the only way to be 100% sure that your credit score is healthy and accurate, is to check your credit report. Your credit report is considered your identity to potential lenders, employers, and anyone looking to invest in you. Here are some great tips to fine tune your credit and boost your likeliness to get a loan.
1) Correct Errors
Once you take the plunge to check your credit report, you may be surprised to find that there are quite a few errors. Relax; this is common for people who don’t stay on top of their financial history. Anyway, correcting the errors will take some time contacting various bureaus and companies, but the time is well spent. With a clean slate, you can start over rebuilding and maintaining your credit.
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Top 10 Tips to Improve Your Credit Score
Posted by: admin in Free Credit Reports on March 9th, 2009
Are you suffering through this economic downturn with bad credit? Well, like you, thousands of Americans are facing the same troubles. However, by doing ten easy things, you can improve your credit score and begin rebuilding your life. Fixing your credit is going to be a long process, but once you’ve achieved your goal, you will be completely relieved that you took the plunge and came out on top.
1.) Don’t Bounce Checks
While bounced checks don’t appear directly on your credit report, every bank and potential lender has access to that information, and it could keep you from getting a home or auto loan in a snap.
2.) Pay Your Bills On Time
Although this may seem normal to some people, others have trouble staying on top of paying their bills, and their credit suffers because of it.
3.) Contact Local Lenders
If you go to a lender in the neighborhood versus a national chain, you are more likely to get a credit extension because they take the time to understand your unique situation versus putting you through a system that will automatically approve or deny you.
4.) Start Small
If you have had some credit discrepancies in the past, there is a reason they are there. Don’t get in over your head with charges you think you can pay off, because of the reality of the situation is, you can’t.
5.) Check Your Credit Report
At least once a year to make sure the information is accurate and you are identity theft free.
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Keys to Establishing Good Credit
Posted by: admin in Free Credit Reports on March 4th, 2009
Any educated consumer is aware of how important it is to establish good credit with potential lenders. Whether you are on the market for a new car, home, or insurance, you will be judged on the basis of your credit score. There is no way around it. Your credit is the only solid identifier of your spending/payment history that can establish whether or not you are worth an investment.
If you are someone who has fallen into the black area, a.k.a. bad credit, fear no more. There are some key things you can do to get yourself back into good standing:
Bill Payment
One of the first things a lender will look for is whether or not you pay your bills on time. This doesn’t necessarily mean you have your account automatically set to pay each and every bill on the due date. But simply, that you are trustworthy to pay your bills within a 5 day grace period of the due date.
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Checking Your Credit Report – Why It’s Important
Posted by: admin in Free Credit Reports on February 27th, 2009
If you were to ask any financial expert whether or not you need to check you credit report, chances are they will tell you it is essential information to check up on at least once a year. The average person, however, has never checked their score and is entirely unaware of how important it is to their financial security.
In a recent study conducted by the Federal Trade Commission, they discovered that there is a substantial amount of fraudulent information on tons of reports to make checking and correcting them well worth the time.
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Credit Score Myths
Posted by: admin in Free Credit Reports on February 16th, 2009
When it comes to your finances, your credit score is the most important factor. Any and every potential lender, whether it be for a car, a home, or a utility company, will look at your credit score to determine whether or not you are worth the investment. Because the majority of people have no clue what their credit score consists of, there’s a lot of room for misconceptions to arise. Having this knowledge, it would be responsible to check up on your credit score every so often to make sure everything is legit and correct.
Myth 1 – If an error is detected on your score, simply writing a letter to dispute it will remove it from your score. Unfortunately, this is not the case. If your dispute is completely legit, you only have 30 days to notify the credit bureau, else you have to let the bad credit sting your record.
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Does Debt Settlement Affect My Credit Score?
Posted by: admin in Free Credit Reports on February 13th, 2009
In the recent economic recession, there has been an uprising of offers to file for bankruptcy and to reduce your debt. These offers sound like solutions to all of your problems, right? Well good news is, is that for the majority of people who stick to the program, these options do work. The only question about these programs, however, is whether or not they negatively affect your credit score.
Look at it like this, anything short of paying cold hard cash upfront to settle your debt, is going to smack your credit score down a couple notches. This doesn’t mean that you’re better off sticking with what your doing now, but it’s more of a reality check that while you may be settling your debt, in the long run you should have paid your dues on time.
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Factors That Contribute to Your Credit Score
Posted by: admin in Free Credit Reports on February 13th, 2009
The modern financial market is highly competitive, specifically when it comes to lending money. Something to keep in mind for your benefit, is that establishing good credit today will ensure that your future credit will be secure, as well as have the necessary flexibility to grow. From birth, everyone starts with zero credit, it is something one must earn. There are a variety of factors, twists, and turns that can contribute to your score, affecting it either for better, or for worse.
For starters, you need to understand that your credit score is determined by the 3 major reporting companies as a result of your credit history. Keep in mind, however, that the 3 companies have no contact with each other on your info. Instead, they report on their own witness to what they interpret in regards to your credit. This creates the issue of common errors on credit reports because there is no one who knows 100% what is what. The only thing you can do, is keep on top of each of the 3 scores you have, and if there is an error, correct it across the board. However, remember that you can’t dispute a credit error unless you know all 3 of your scores.
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4 Tips To Increase Your Credit Score
Posted by: admin in Free Credit Reports on February 12th, 2009
Often times when an individual runs into bad credit they feel unsure as to how to get back on track. When it comes to repairing your credit, it takes time. However, the process will not only increase your credit score, but present you with better spending habits to keep it there. Here are some key things you can do to get started:
1) Secured Credit Cards – This type of credit card is great for building your credit because you are required to make a cash deposit into your account to be approved. This gives the lender assurance that there is cash available to cover the card, in addition to supplying you with the perfect tool to start proving your credibility.
2) On Time Bill Pay – As this seems basic for some people, it is important to realize that if you have bad credit, anything you’re doing to repair it will be severely affected if you don’t pay your bills on time. In an extreme, the cut-off point is 30 days past due. After that, you might as well wait until the following month. Keep in mind, that most companies are willing to give you a grace period as long as you call and notify them you’ll be a few days late.
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Credit Rating Score Calculation & Meaning
Posted by: admin in Free Credit Reports on February 11th, 2009
How is my credit score calculated?
Every one’s credit score is based on the same system. Mathematical models are used to determine how much credit you should be allotted, according to the default figure.
The models consider the types of debt you have and the amount you still owe. From there, the model researches and compares your repayment history with thousands of other consumers to arrive at your current credit score
Your previous payment behavior is one of the most important factors when it comes to determining your credit score. How much you owe, your credit history overall, as well as how many inquiries your credit report has on it. The type of credit you use, and how much credit is available to you are also factored into your credit score model.
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