| |
| |
|
|
Credit Information |
|
Do you Know the Benefits of Checking your Credit Report?
Do you know why you should check your credit report? Of course you do, because you have undoubtedly experienced one working in your life! No matter where you roam, your credit report follows you through life, updating all aspects of your life: your employment, where you live, your opened credit accounts, your closed accounts, your payment history, and even public records on you. In this country, a good credit history brings you benefits of all kinds--a home mortgage, an apartment lease, an auto loan, or even more credit--with ease. Like a job resume, your credit file carries a lot of weight, that's why you need to keep an eye on what it says about you. Many options are cut off to you if you do not look "credit worthy" on paper. A bad report can mean higher rates on loans and insurance. It can also mean whether you get hired or promoted by a growing number of employers who now use them in the evaluation process. Even if you think you have a good credit standing and you pay your bills on time, you still need to review your credit file for accuracy. Studies have shown that credit files have an error rate as high as 70%, often the result of simple human or computer error. Sometimes these errors show you being late in paying your bills when you are not. Your file might even leave out information that could sway a decision in your favor. The most common error is where damaging information of another person, with a similar name or account number, is mixed into your profile. Monitor your personal credit file so that you are alerted whenever negative or derogatory items are reported against you. A neglected credit file can lead to some major inconveniences in your life in the future. You should fix mistakes or remove any incorrect information as soon as you find it. Errors that creep onto your report take time to correct. Catching these mistakes when they occur helps resolve them faster. When you improve your credit worthiness you can qualify for better rates - which adds up to big savings for you. Even if you think you have an unblemished past, checking your report lets you know what a future lender or employer will learn about you. If your credit report is less than perfect now, you can deal with lingering problems effectively, and move towards a better credit standing in the future. A good credit rating means more money in your pocket and less out the door! ** Attn Ezine editors / Site owners ** Thanks, (c) Mary Arce - All Rights reserved Mary Arce is a consumer advocate and author helping Americans solve their credit problems and save massive amounts of money on mortgage and credit card interest. WHY are some people getting RICH managing their debt? My email address: wealth@1st-wealth.com Article is also available by email - send blank email to: checkreport@1st-wealth.com
MORE RESOURCES:
Credit - Google News |
|
|
|
RELATED ARTICLES
Saving Money: Quick Cash, High Cost I didn't think it was possible. But it is. Your Guide On Choosing a Credit Card To Suit You Reach into your wallet or purse, pull out a card, swipe, and you're done. It is very easy to use a credit card. Common Credit Score Myths A lot of credit score myths about fico score ratings get spread around and some of them are just outdated information. Sometimes even lenders can give you the wrong advice and it can get confusing. Good vs. Bad Credit Debt Do you know the difference between good and bad credit debt? Most everyone seems to think that all debt is bad, but that is not always the case. In fact, there are some instances where good debt can actually help your financial situation. Getting Your Credit Report and Understanding Whats On It If you intend to apply for a loan, you need to obtain your credit score. Understanding what this score means will allow you to make the loan process easier and quicker. Top 5 Reasons To Check Your Credit Report Regularly #1 Make sure mistakes aren't hurting your credit.Reviewing your credit report can help you avoid costly errors. Free Credit Report - Watch Out for Scams Many people may still not be aware of an amendment to the Fair Credit Reporting Act (FCRA) that Congress passed last year. This amendment allows U. How To Eliminate Credit Card Debt There is almost nothing more troublesome than having too much debt to pay each month. Consumers incur debt for many different reasons. Five Reasons to Repair Your Credit Score - You Can Do It Yourself There are multiple reasons that tell us why we should have a 700+ Credit Score, but these five facts will definitely give you the big picture and hopefully will drive you to want to fix your credit score starting today.Fact #1: Did you know that consumers with Credit Scores of 700+ are likely to get interest rates up to four points lower than those with scores under 640. Learning the Disturbing Facts about Credit Card Debt When I received my first credit card in the mail at age 18 I was ecstatic, I said to myself, wow now I'm getting somewhere in life. This credit card company thinks I'm worthy of 500 dollars in credit. Building A Credit Report Lenders Will Love You For Will lenders really love you for having a good credit report score? Love is not the right word of course; lenders are after your money, and never forget that. But the lender's representative will love dealing with your credit application if your credit report is good. Establishing Credit - What You Need To Know Part 2 In my previous article "Establishing Credit - What You Need To Know Part 1" I discussed the need for a good credit history and what lenders were looking for prior to loaning an individual money or additional funds based on their credit history. This article will go into the necessary steps someone needs to take in order to initially establish their credit history. Warning: Free Credit Report Imposter Websites Springing Up on the Web A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer credit reporting companies to provide consumers with a free copy of their credit report, upon request, once every 12 months.Access to the free credit reports has been phased in beginning last December in the West and will finally be nationwide by 1 September. Balance Transfers Can Help You Stop Putting Money Down The Drain! As you probably know, interest rates are at all time low right now and if you aren't getting the best deal from your credit card company then they owe it to you to either lower your rate, or you owe it to yourself to find a better deal. You see, credit card companies need your business in order to succeed and if you refuse to pay a penny more than you have to then you'll be doing yourself and others a big favour indeed. Your Consumer Rights If you have ever fallen behind on your debts you already know that dealing with your creditors can be a hassle. Sometimes it can be downright humiliating. How Your Credit History Can Affect Your Life Your credit history is an important aspect of your life. Maintaining your credit rating is very important to your future and to your lifestyle. 19,178 Identity Theft Victims Per Day - Are You One Of Them? Identity theft statistics are shocking. And we are told that it will only become worse, before it gets any better. The Advantages of Credit Cards There are many evils associated with credit cards, but there are benefits that are hard to ignore. One benefit is having the credit card company act in your behalf to recover funds from a disputed transaction. Harassment of People in Debt by Creditors HarassmentHarassment of people in debt by creditors or their agents is a criminal offence under the Administration of Justice Act 1970. It is often difficult to know what to do when you feel a creditor is not dealing with your account fairly. How Does a Creditor Determine Whether to Grant You Credit? Credit 101How does a creditor determine whether to grant you credit? For many years, creditors have been using credit scores and credit scoring systems to determine if you'd be a good risk for a loan or credit card. More recently, credit scores have been used to help determine what rates you pay for insurance.
|
||||||||||||||||
