Posts Tagged ‘free credit report’
The Perfect Credit Formula
Posted by: admin in Free Credit Reports on March 25th, 2009
Did you know that less than 1% of the United States population has “perfect credit?” The credit scale ranges from 300 to 850, and believe it or not, you too can reach that magical 850. All it takes is the mastery of a few key traits, and you’ll be a part of that 1% in no time:
- Keep the amount owed on all credit accounts less than 30% of your limit.
- Make sure you never have major discrepancies e.g. bankruptcy or foreclosure.
- Keep most of your accounts open for a long time, at least 10 years because you need at least 10 years of positive history to get anywhere close to 800 on your FICO score.
- A few “installments” in good standing e.g. auto loans or mortgage.
- Minimal late payments, overdraw charges, or any other account issues.
In addition to mastering these details, you really need to be checking your credit report at least once a year. This can help ensure that all your information is accurate and up to date. A quick tip, is that from each of the three major credit bureaus, Experian, Equifax, and TransUnion offer you one free peak at your report once a year.
» Finish reading this The Perfect Credit Formula Article - Click Here
Benefits of Checking your Free Credit Score & Report
Posted by: admin in Credit Quick Tips on March 24th, 2009
If you’ve been hearing about free credit report and free credit score offers, you’re probably wondering what the big deal is. Unless you don’t have a problem with paying high interest rates and fees to lenders, you should consider getting some background information about your credit. Consider this, the range of your credit score can affect how much you will pay for your monthly mortgage payment, for example:
If you have a good credit score:
Mortgage Loan Amount: $250,000
Interest Rate: 6.75%
30 Yr Fixed Rate Payment: $1,621
Total After Finance Charges: $333,734
» Finish reading this Benefits of Checking your Credit Report Quick Tip - Click Here
The Value of a Sparkling Credit Report
Posted by: admin in Free Credit Reports on March 14th, 2009
Prior to meeting with a lender to request a loan, sign up for a new cell phone service, purchase a car/home, or interview for a job, you should definitely check your credit history. The information on your credit report may influence whether or not you get the loan, cell phone, car/home, or job.
- What Information Shows Up On Your Credit Report?
Your credit report contains information regarding your financial behavior and past/present credit balances. It provides information like when a credit account was opened, the limit or loan amount, monthly payment amounts, and current balance. It will also show whether or not you’ve made payments on time. The report also contains information about bankruptcy, child support, and taxes. This type of information can remain on your credit report for seven years or more.
- What to Do if You Find Errors
If you find that your credit report is inaccurate, investigate immediately. The problem could be a simple error or something very serious like identity theft. The faster you correct the issue, the better. To correct credit errors, first notify the agency you have a dispute with and present them with the information you have to support your finding. Then you wait to see what happens and do what they tell you to do.
» Finish reading this Value of a Sparkling Credit Report Article - Click Here
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.
» Finish reading this Healthy Credit Score Article - Click Here
Avoid Becoming an Identity Theft Victim
Posted by: admin in Credit Quick Tips on March 3rd, 2009
A shocking 20,000 people fall victim to identity theft every single day, it certainly makes you think twice about whether or not you may be one of them. The reasoning behind this aw-inspiring statistic is that the majority of people have no clue what is going on with their credit, and seem to not even care.
» Finish reading this Avoid Becoming an Identity Theft Victim Quick Tip - Click Here
Reasons to Check Your Credit Report
Posted by: admin in Credit Quick Tips on February 28th, 2009
There are two main reasons you should check your credit report. First, to detect and protect against identity fraud before you become a victim. And second, to be an educated customer about credit services.
No one thinks that identity theft will never happen to them, so when it does, they are often entirely unaware. Checking your credit report often can help you detect fraud and resolve the issue before it is too late. Furthermore, being educated about credit services can help ensure your financial security, as well as promote an environment for good credit as opposed to fair or decent credit.
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.
» Finish reading this Credit Debt Settlement Article - Click Here
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.
» Finish reading this Factors That Contribute to Your Credit Score Article - Click Here
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.
» Finish reading this 4 Tips To Increase Your Credit Score Article - Click Here
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.
» Finish reading this Credit Score Calculation & Meaning Article - Click Here