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.
In one recent study, more than 50% of the credit reports checked contained errors. Other studies have shown similar results with as high as a 70% error rate. The most common error occurs when the information of another person, with a similar name or account number, is recorded in your credit profile.#2 Track your history of payments.Potential lenders want to see a history of timely payments before they'll consider offering you a loan or credit.
Check your report to see that your payments are being reported accurately to the credit reporting agency (CRA).
A history of late payments will result in higher interest rates being charged or having your credit application or a loan denied.
Late payments will also lower your FICO score.#3 Protect against potential identity theft.Identity theft has become the fastest growing crime in our nation. Identity theft complaints jumped 75% from last year according to a recent Federal Trade Commission report. The monetary loss from identity theft crimes skyrocketed to a combined $53 billion in 2002!
Accounts that appear on your credit report that weren't opened by you could be a sign of identity theft. Report any such occurrences to all three major credit bureaus immediately and have them place a fraud alert on your account.
The three bureaus can be reached at: Equifax 800-997-2493
www.equifax.comTransUnion
800-888-4213
www.transunion.comExperian 888-397-3742
www.experian.com#4 Keep your inquiries to a minimum.Make sure all of the listed inquiries were authorized. If there are unauthorized inquiries, write to the credit bureau and to the company that made the inquiry informing them that you did not authorize the inquiry and to remove it from your credit file. Potential creditors can regard too many inquiries within a short period of time (30-60 days) as a negative and can result in the refusal to extend further credit.#5 Stay on top of your credit without hurting your credit score.A credit score, also called a FICO score, is a numerical grade given to each consumer . Your grade or score is an analysis of your credit risk based on your credit history.
Credit scores range from 300 to 900, and those with scores in the range of 640 to 700 are considered excellent credit risks.
Those with FICO scores below 500 are considered to have the highest risk of defaulting on a loan and therefore most lenders won't even consider them.
Consumers with higher credit scores receive the best rates and terms on credit and loans..
http://www.yourfreecreditreportnow.comAuthor: James H. DimmittJames is editor of
?To Your Credit?
a FREE weekly newsletter to help you manage your personal finances.
You can subscribe to his newsletter and also get a FREE copy of your credit report when you visit:http://www.yourfreecreditreportnow.comjimdim815@aol.com
First Step In Credit Repair- How To Conduct A Credit Report Check
The use of credit today in the purchasing of food, property, assets and services is prevalent. There is hardly anything of value that cannot be purchased in part or in full by the use of credit, or a credit card. Whether it is to finance a home, or a car, or simply paying for a dinner or a holiday vacation abroad, credit is acceptable, convenient and useful.
However, the wide use of credit does not mean everyone who makes use of credit knows how to use it with wisdom. Credit, like the proverbial fire, can be harnessed for good or it can be like wild fire which can burn you and cause wanton damage.
Credit scores affect every aspect of our financial lives including qualification for loans and mortgages, the interest rates we pay, employment opportunities, and even insurance premiums.
Therefore, the first step towards credit repair is to know your credit standing. This means getting your credit report.
Even if you do not suspect anything...
First Step In Credit Repair- How To Conduct A Credit Report Check
Credit report > First Step In Credit Repair- How To Conduct A Credit Report Check
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.
In one recent study, more than 50% of the credit reports checked contained errors. Other studies have shown similar results with as high as a 70% error rate. The most common error occurs when the information of another person, with a similar name or account number, is recorded in your credit profile.#2 Track your history of payments.Potential lenders want to see a history of timely payments before they'll consider offering you a loan or credit.
Check your report to see that your payments are being reported accurately to the credit reporting agency (CRA).
A history of late payments will result in higher interest rates being charged or having your credit application or a loan denied.
Late payments will also lower your FICO score.#3 Protect against potential identity theft.Identity theft has become the fastest growing crime in our nation....
Credit report > Top 5 Reasons To Check Your Credit Report Regularly
Bad-Credit Credit Cards: Are They Right For You?
Copyright 2006 Edward Vegliante
Do you think you have bad credit and that you should apply for bad credit credit cards? Before you begin filling out bad-credit credit card applications, there are a few things you should consider. To determine if bad-credit credit cards are right for you, you will need to take a detailed look at your credit situation.
No Credit
If you are thinking about applying for bad-credit credit cards because you have no credit history, think again. Just because you have not established a credit history it does not mean that you need to apply for bad-credit credit cards. In fact, there is a clear difference between having no credit and having bad credit.
There are a number of credit cards that exist that can help you establish your credit. Additionally, if you have no credit, some credit card suppliers will allow you to have a cosigner on a credit card.
Thus, if you know of someone willing to cosign for a...
Bad-Credit Credit Cards: Are They Right For You?
Credit report > Bad-Credit Credit Cards: Are They Right For You?
Credit Report ? Watch Out for Parking Tickets
The economic downturn of the last five years has affected millions of Americans, but it has also affected the budgets of states, cities and counties. With limited tax dollars with which to work, various government entities have had to try to stretch their budgets to allow them to continue to function. Many government agencies at the state and local levels have turned over debt collection to collection agencies, even for such seemingly small debts as parking tickets or library fines. What does this mean? An unpaid parking ticket could end upon on your credit report. Credit reports and the associated FICO credit score have become an increasingly important part of the lives of Americans.
At one time, the credit report was primarily used by mortgage lenders to determine if a prospective customer should be granted a loan. In recent years, the credit score and report have been used for an increasingly large number of uses by all kinds of companies. Employers use them to avoid hiring...
Credit Report ? Watch Out for Parking Tickets
Credit report > Credit Report ? Watch Out for Parking Tickets
Top 5 Credit Misconceptions
We have all heard the rumors?from neighbors, relatives or friends. There are a wide variety of myths floating around about what you should and shouldn't do to improve your credit reports and credit scores. The buck stops here! Phelps Creek Financial Coaching has exposed these urban legends to provide you with the truth about credit: 1. Your score will drop if you check your credit - Fortunately, this one is definitely not true.Checking your own report and score is counted as a "soft inquiry" and doesn't harm your credit at all. Only "hard inquiries" from a lender or creditor, made when you apply for credit, can bring your credit score down a few points.
Worried about damaging your credit while shopping around for a loan? Multiple inquiries for the same purpose within a short amount of time (a few weeks) are grouped together into a less damaging period of inquiry.2. Closing old accounts will improve your credit score - To close or not to close, that is the question....
Top 5 Credit Misconceptions
Credit report > Top 5 Credit Misconceptions
Credit Card Debt ? Watch Your Credit Report and Your Bill
Most consumers are aware of the importance of their credit report. This document, offered to consumers and lenders by the three major credit bureaus, offers a fairly complete list of financial transactions and debts incurred by a consumer. Lenders examine the report, along with the associated FICO score, to determine whether a consumer is worthy of receiving additional credit or loans. What many consumers may not know is that credit card companies regularly check their credit reports, and unfavorable entries may result in a higher interest rate on their credit cards. We have previously noted that many credit card companies employ something known as a "universal default clause" in their terms of service.
This clause allows the company to raise interest rates on the customer's card if the customer pays bills late. A late payment to the phone company could result in a higher interest rate on the Visa card. Most companies also allow themselves the latitude to raise their customers'...
Credit Card Debt ? Watch Your Credit Report and Your Bill
Credit report > Credit Card Debt ? Watch Your Credit Report and Your Bill
Reality TV Shows Spark New Phenomenon In Fashion 'Celebrity Inspired Tees'
Beverly Hills, CA (ContentDesk) November 29, 2005 -- Reality television shows for celebrities have proven to be very successful and has sparked a new phenomenon in the fashion world now affectionately being called, "Celebrity Inspired Tees." Fans are showing loyalty by the thousands by clamoring to wear celebrity phrases on t-shirts, hats, belts and coffee mugs. Multi-Millionaire Donald Trump, Socialite Paris Hilton and reality show newcomer R& B star Whitney Houston all have one thing in common,...
Top 5 Reasons To Check Your Credit Report Regularly hats Reality TV Shows Spark New Phenomenon In Fashion 'Celebrity Inspired Tees'
Credit report > Reality TV Shows Spark New Phenomenon In Fashion 'Celebrity Inspired Tees'
Potty Training - To Train or not to Train?
I have always found the notion of toilet training a toddler to be a bit much. I didn't feel right about pushing my girls to do something I felt would eventually come naturally. At three years old, both my girls were potty trained ... not because I read books and raced them to the porcelain each time I suspected they should go. They knew what the potty was for.
They knew when they had to go. They'd figure it out on their own! Well, by golly, they did! Sure, we went a little stupid each time...
potty training Top 5 Reasons To Check Your Credit Report Regularly Credit report Potty Training - To Train or not to Train?
Credit report > Potty Training - To Train or not to Train?
PostcardMania’s Marketing Maven, Joy Gendusa, Exposed in $1,000,000aire Blueprints Business Magazine
Clearwater, FL (ContentDesk) June 29, 2006 -- Remarked as one of the most successful new magazine releases in the past 30 years - 1,000,000aire Blueprints - published their July/August 2006 issue available for sale in Barnes & Noble today. With detailed examples and step-by-step instructions from self-made millionaires, Joy Gendusa Founder and CEO of PostcardMania, details her trek from a start up with no cash flow to a multi-million dollar enterprise in just a few years.
Credit report > PostcardMania’s Marketing Maven, Joy Gendusa, Exposed in $1,000,000aire Blueprints Business Magazine
Republican Unity Important to Success in 2006 Schwarzenegger Deserves Support
Sacramento, CA (ContentDesk) February 9, 2006 -- Below is the text of a statement released by Trenton West CEO & California Republican Party member Dr. Dora Kingsley. The statement addresses the Resolution submitted by Michael Schroeder, John Herrington and Truman Campbell for consideration at the California Republican Party convention to be held later this month in San Jose, California. "As a member of the California Republican Party for nearly twenty years, I have never been more excited about...
Top 5 Reasons To Check Your Credit Report Regularly Credit report Republican Unity Important to Success in 2006 Schwarzenegger Deserves Support party
Credit report > Republican Unity Important to Success in 2006 Schwarzenegger Deserves Support
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