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Three Good Reasons To Get Your Online Credit Report

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Three Good Reasons To Get Your Online Credit Report

by Leo Chu
Monitoring your credit record is one of the wisest things to do in this technological age. While it is true that the internet has made life a lot easier, it is also an undeniable fact that it has made crime more sophisticated, easier to commit, and widespread. (continued below)

Three Good Reasons To Get Your Online Credit Report

(cont.)
It is important to arm yourself with the very weapon cyber criminals use against you. You have to use the internet to your best advantage. Who is the best person to keep tabs on you, if not yourself? Doing so will give you identity and financial protection, something badly needed in this modern age.

Know Where You Stand

Shrugging off a credit report is the biggest mistake you could make in your life. There are numerous reasons why it is important to make it a habit to go over credit reports. The three primary benefits of online credit reports are discussed below. These will convince you of the need to check rating in a regular basis.

Reason No. 1: protection from identity theft. Hacking has become quite a lucrative industry. With the right information, someone could pretend to be you and simply conduct transactions you have no knowledge of. Getting an online credit report will make you aware of suspicious transactions and will keep your finances safe.

Reason No. 2: protection from inaccurate reporting. Credit reports, like all assessments, have a tendency to be erroneous. It is important to track your record and make sure that you are given a fair and accurate rating since your credit history matters in other aspects of your life. Aside from getting loans, records are given due notice by employers and utility companies as a basis for credibility. Leaving a record unchecked puts you at a disadvantage, especially if the low credit score is merely an error.

Reason No. 3: opportunity to build credibility. If you have missed payments in the past and your credit report is bad, monitoring credit history is the best gift to give yourself. It will allow you to keep tabs on transactions made and to make sure that you attend to obligations on time. Most companies frown upon people who have low credit scores, and it is only logical to work on pulling your scores up.

Getting a credit report entails only a small fee. There are numerous websites online that could generate your credit history in no time. Time and money therefore, are not hindrances at all to monitor finances. A few bucks, a few clicks, and you should be good to go!

About the Author:
Do not shrug off your bad credit history because this has massive effect on your overall credit score. Visit Free-Credit-Reports.com and learn how to improve your credit score fast and easy. credit score ratings is one thing you should never take for granted.

Article Source: http://www.articlesnatch.com

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Getting Your Credit Report

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Getting Your Credit Report

by Leo Chu
It is important for people to know their credit scores, since it largely influences their ability to engage in commercial transactions. Knowledge of one’s ratings will give him an idea how much effort he needs to exert to further improve his image. (continued below)

Getting Your Credit Report

(cont.)
Getting information about assessments made by credit report companies for an individual need not be expensive. In fact, one can obtain such data for free.

Entities or agencies that provide such evaluations on consumers are mandated by law to provide the latter copies of the assessments made.

Under the Fair credit reporting Act, any individual has the right to get a free copy of his scores and the explanations behind these once every year. In obtaining a copy, a person must log on to the website of the firm and provide necessary information, such as full name, gender, address, contact details, birth date, and social security number, among others.

He may also be asked to give his credit card number. This is because the firm will charge fees on the consumer in the event that he decides to avail himself of additional services besides the one-time release of his assessment report.

Currently, there are three companies providing reports on people’s payment histories and their financial standings. A consumer may find it prudent to get copies of the evaluation from all three firms to better manage his standing.

A person who likes to improve the way he is viewed by lenders, banks, and other entities should regularly monitor developments about his evaluations and do the necessary actions. Increasing one’s standing entail settlement of debts and prompt settlement of bills, among others.

Getting regular updates about a company’s assessment of an individual and availing additional service, however, requires payment of some fees.

Additional services may include sending alerts to concerned consumers every time an entity requests for their payment history, and sending notifications about changes in their standings.

Regularly monitoring one’s ratings and improving these is essential to allow a person to smoothly transact business.

A person can easily secure loans for financing a purchase of an automobile or a house if a bank knows he has a good payment history. Favorable scores may also allow a person to easily buy financial products, like insurance, and purchase other goods and services with loans.

On the other hand, poor ratings may prevent an individual from getting a bank loan and from being able to engage in other financial transactions.

Because of the huge influence of evaluations on people’s financial standings and their ability to do a wide range of activities, the public is encouraged to keep track of their ratings and improve these if necessary.

About the Author:
Do not shrug off your bad credit history because this has massive effect on your overall credit score. Visit Free-Credit-Reports.com and learn how to improve your credit score fast and easy. credit score ratings is one thing you should never take for granted.

Article Source: http://www.articlesnatch.com

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Shrugging Off Bad Credit? How Your Flawed Score Could Hurt You

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Shrugging Off Bad Credit? How Your Flawed Score Could Hurt You

by Leo Chu
You have always hated scores. Exam scores, aptitude scores, credit scores. You feel that it reduces your whole person to one mere number, and is therefore a thing that must be ignored. After all, you get by with bad scores just fine, right? (continued below)

Shrugging Off Bad Credit? How Your Flawed Score Could Hurt You

(cont.)
Wrong! There is one score that you must pay attention to: your credit score. Having flawed or inaccurate credit history could dramatically change how you live your life. It determines credibility in the most important roles that you portray. As a consumer, you are judged according to your credit score. As an employee, you can get hired or ignored, promoted or fired, based merely on credit history. As a motorist, you could get the lowest premiums if you have a high credit score, while you are sure to get the highest premiums if you have just the opposite.

Four Scary Credit Scenarios

To illustrate this point further, these four scary scenarios here could help shape up and fix your credit history.

Employment
If you are looking for a job, a promotion, or simply a better job placement within a company, it is important to be aware that credit history matters greatly. Employers use this factor to determine whether you are a good hire or not. Jobs that entail financial handling most especially require a credit scoring history. It all boils down to credibility, really. If you have missed some payments on loans, this indicates two negative traits all at once: that you are not responsible enough to settle accounts, and that you will most likely be corrupt.

Insurance
Credit card history can decrease or increase premiums. Statistical research shows that clients with low credit repair tend to file for higher claims so that insurance flag applicants with low credit scores.

Cellular Phone Subscription
Looking to get hooked with cable, internet, and cellular phone? Credit scores will determine whether you will be treated like a VIP or like an annoying customer. Having a high credit score will be the company’s gauge in offering you their best package, since your score indicates you are a good payer. If however you have a bad credit history, you will be asked for some down payment instead of perks and freebies.

Tenancy
Unknown to many lessees, landlords consistently check the credit history of tenants to check their capability to pay. If you like where you live now and do not want to lose your pad, work to credit scores history.

Your credit score matters because it could affect the most important aspects of your life.

About the Author:
Do not shrug off your bad credit history because this has massive effect on your overall credit score. Visit Free-Credit-Reports.com and learn how to improve your credit score fast and easy. credit score ratings is one thing you should never take for granted.

Article Source: http://www.articlesnatch.com

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Credit Score and Getting Approved

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Credit Score and Getting Approved

by Webmaster Homeloans
A good credit history is now more important than ever. Solid credit keeps the cost of consumer financing down, and it can be the deciding factor in whether or not an auto loans or home loans application is approved. (continued below)

Credit Score and Getting Approved

(cont.)
A good credit history is now more important than ever. Solid credit keeps the cost of consumer financing down, and it can be the deciding factor in whether or not an auto loans or home loans application is approved.

In todays fast-paced, high-tech age, your credit history will be reviewed more often by artificial intelligence than human intelligence. This computerization has made the Mortgage loan process much more efficient, and thats a good thing. But computers take all the subjectivity out of credit evaluation, and that means you have to take ownership of your own credit standing to avoid being blindsided by a potential stain on your credit record.

It is important that everyone know his or her credit score. In fact, everyone is entitled to one free credit report a year. Various companies, including Experience Consumer Relations (888-397-3742), can show you your credit profile. Fairly frequently, erroneous information appears on a credit report. This can take a few months to correct, which might mean the difference between being able to purchase home of your dream or not.

Credit scores usually range between 400 on the low side to 800 on the high side. On rare occasions, these ranges may be exceeded. Additionally, a given score may not be obtainable at all due to factors like lack of credit history or too few lines of credit.

If you know your score, then you can see what the creditors see and have the ability to get a jump-start. Here is a quick breakdown of what a score means to a creditor:

720 and overWonderful! You are at the top, entitled to best rates and terms.
700 719Excellent score. You are a very desirable borrower.
680 699Good credit. You should be in strong shape to buy.
660 679Okay credit. Dont look for other exceptions.
640 659Borderline. Youre okay if everything else is strong.
620 639Weak. The rest of your file must be perfect.
600 619Difficult. Needs some work or a special program.
Below 600Trouble. Try to fix up your credit.

Borrowers with scores over 700 can usually be granted exceptions for other problem areas, like new employment or frequent job changes. These borrowers can get the benefit of extended qualifying ratios to help them obtain a loan. This is a big plus not only in getting approval but also in avoiding the more costly “no income verification” option.

If you would like to improve your credit, there are a few things you should know. An easy way to start is by increasing your credit limits. If the ratio between the amount of credit you owe and the maximum credit limit increases, the computer views it as a plus in scoring.

Try to avoid frequent inquiries into your credit history. This can trim your score a few points. The good news is that the negative effect of multiple inquiries only lasts about 30 days.

Keep in mind that you have a right to an error-free credit report. For instance, if your profile shows a late payment without a specific month of delinquency, that item can be removed. This is a great tool, but you do need to check on your credit and make the requisite phone calls.

Remember that it may take a couple of months for your credit score to reflect any changes. There are three credit bureaus that report a score, so in essence; you will get three separate credit scores. Most creditors usually take the median of the three scores.

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