Credit Reports
Credit reports carry vital information about your financial history. Many companies use this information when making decisions on whether to do business with you or not. A good credit history helps you qualify for lower interest rates on loans and credit cards, lowers your insurance rates, and ups your chances of being offered a job. Do you know what your credit history says about you?
What You Need to Know about Credit Reports
The following sections can give you the information you need understand your report and how to get it:
How To Read What's in Your Report - It's important to understand the various sections of your credit file and the meaning of what is being reported, who is reporting it, and why. This information can determine whether you get a loan, job, or insurance. Find out what your report says about you.
Fixing a Credit Report Mistake - Sometimes information will be reported erroneously on your credit file. It might be due to a company not reporting that you had paid off a debt or information from someone else with the same name showing up on your report. Luckily, the credit bureaus make it easy to dispute errors. Here are the steps you need to take to fix a report mistake.
Online Access To Your File - Access to online reports is beneficial before you apply for any credit. Know what is on your credit file first and have the opportunity to dispute any errors.
Free Online Services - There are various ways to get a free copy of your file over the internet. Some involve signing up for a credit monitoring service, but there are other instances where you are entitled to a free report with no strings attached. This information can help you decide which is the best method for you.
Free Credit Check - You can get a free credit check annually from each of the three credit bureaus, plus you are entitled to additional free reports in these instances.
Credit Scores - Creditors use credit scores when deciding to grant you loans or credit cards. Understand how your credit score is determined from the information in your credit file and get some tips on improving your credit score.
The Role of Credit Bureaus - There are three main credit reporting companies, otherwise know as credit bureaus. The credit bureaus maintain information on individual credit histories, supplying it to potential creditors, landlords, and employers.
Credit Monitoring For Fraud - When it comes to protecting your credit, monitoring for fraud is very important. Keeping a pulse on your credit history will alert you to possible identity theft.
Credit Monitoring Services Review - This review of credit monitoring services will show you the features of the various credit monitoring packages available. Find out which companies offer the best services for the most reasonable price.
The FACT Act - The FACT act entitles all US residents to receive a free copy of information in their credit file every twelve months. Find out how to receive yours.
Consumer Credit Laws - The Fair Credit Reporting Act and these other laws were enacted to promote accuracy and ensure the privacy of the information used in consumer credit reports. Find out what your rights are.
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