Credit Information
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Next Credit Topic : Secured Credit Cards- Consumer Tips - Whether you have no credit or damaged credit, secured credit cards are a good tool for building a good credit history.Several months ago Tom, a member of CreditBoards.com, filed for a Chapter 7 Bankruptcy. Now he is in the process of rebuilding his credit history. It's a task that is not ea...[ read more]
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Is Your Credit Score Being Held Against You?
Credit Scores That Hurt Is your credit score being held against you? More and more the staples of life depend on your credit score. Your mortgage, insurance premiums, employment opportunities and even your landlord may be using your credit score to determine your financial future. In some cases even the utility companies are basing the size of your deposit on your credit score. Landlords are determining your reliability as a tenant. Insurance companies are setting the size of your premiums based on your credit score. Many more employers are also using your score to determine your reliability. According to a 2004 survey by the U.S. Public Interest Research Group, 25% of credit reports which list your credit and borrowing activities, had errors serious enough to to cause a consumer to be turned down for a loan or job. To counteract the erronius information on your credit score you should review your FICO scores at least once a year, or several months before applying for a loan. Check for negative info, errors or any suspicious activity that may suggest identity theft. The best place to check is myfico.com. The three major credit bureaus will also sell you your credit reports, but they're not as reliable because none of them provide your FICO scores with your credit report. The best strategy to stay on top of your credit information is to pay the extra money to get your FICO scores. Also apply for your free credit report from one of the three credit bureaus every few months. Moniter any new activity. Cornelius P Crumpacker
Related Products For Download: Read Next : Secured Credit Cards- Consumer TipsWhether you have no credit or damaged credit, secured credit cards are a good tool for building a good credit history.Several months ago Tom, a member of CreditBoards.com, filed for a Chapter 7 Bankruptcy. Now he is in the process of rebuilding his credit history. It's a task that is not ea...
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Their report includes where you live, your bill-paying habits, and bankruptcy and arrest information. The information compiled by them is used to determine whether you would be a good borrower. It may also be used by a business to decide whether you would be a good employee. Credit Problems? Heres How to Manage Your Creditors If you find that creditors are calling you almost daily or that one of more of your bills has been turned over to a collection agency, you should know how to manage your debts. 5 Steps You Can Take to Get Paid! There are always some companies that have past due invoices and can't seem to get them paid. They might be quietly waiting to get paid not wanting to contact the client for fear of appearing "desperate". Sometimes a big part of the problem is no response, it is bad enough when you are not getting paid, but when orders keep coming in and you are not getting any acknowledgement to your collection efforts, you just can't keep processing orders. How Healthy Is Your Credit There's only one way to discover the "health" of your credit. You need to examine your credit report. Your credit report is your "consumer identity" that potential lenders will use to judge your credit worthiness. 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.S. citizens to receive a copy of their credit report, for free, once per year. The plan is being rolled out slowly in order to avoid swamping the system, but people living in the West and Midwest can receive their credit reports now, and everyone will be able to obtain a free credit report by September of this year. Those seeking a copy of their credit report should watch out, however, as not everyone who promises a "free" credit report is actually delivering one. 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