It is not at all uncommon to find errors in your credit report, so you should be prepared to search through yours with a fine-tooth comb. Studies say that up to seventy percent of credit reports are likely to contain some common errors, so it is important that you do not let them slide. By correcting the errors that appear in your report, you can see the scores rise by twenty to one hundred points, depending on the type of error. It is your right to dispute any errors in your credit report, and the law states that all disputes must be investigated. The law also requires the source of the error to correct the errors with the credit bureaus immediately. (more…)
Archive for the ‘Credit Reports’ Category
There May Be Errors in Your Credit Report
Saturday, June 19th, 2010Pre-Employment Credit Screening
Saturday, June 19th, 2010Many Americans have no idea that their prospective employer has the right to check credit scores before extending a job offer. The employer cannot check your credit without your express consent, but it is possible to skim right over the fine print before signing any applications. When you sign your application, you are granting the prospective employer the right to perform a background check, and that will almost always include a credit check. (more…)
Why Is One Credit Score Different From the Others?
Saturday, June 12th, 2010If you’ve recently ordered copies of your credit reports, you may have noticed some funny things. You have three different credit scores, for one thing. There is one score for each of the three major credit reporting companies, Equifax, Experian, and TransUnion. These three companies should, ideally, give you similar credit scores, as their calculation procedures are basically the same. Sometimes, though, there can be a dramatic difference between the scores from these companies. Many consumers are confused and curious as to why this happens. There are a couple of reasons for it.
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Why You Need to Know Your Credit History
Saturday, June 12th, 2010Your credit history is basically a summary of your entire financial life up to this point. Until you started taking out credit, you didn’t have a credit history at all. Once you start this, though, you can easily create a bad history for yourself with just a few wrong moves. It’s like a game where bad moves take away more points than good moves add! Over time, though, your goal should be to build a good credit score, which is done by having a history of being financially responsible and using credit wisely and well. (more…)
What to Look for On Your Credit Report
Saturday, June 12th, 2010You’ve probably heard, if you’ve done any research on the subject at all, that you should pull copies of your credit report at least once a year. The truth is, though, that you should actually get a copy of your report from at least one major credit reporting bureau at least once every three months. There are many reasons for this. Mainly, this allows you to catch bureau mistakes, which are surprisingly common, early, and it allows you to catch identity theft right away. (more…)
Three Reasons to Check Your Credit Report
Saturday, June 12th, 2010You might only think about checking your credit report before you apply for credit. Many people are in this situation. They check their reports before they apply for a mortgage or a car loan. This, though, can be a real problem. To get the most benefit from your credit report, you really should be checking it on a regular basis. This means at least once a year, although checking your report once a quarter is an even better option. Here are three reasons that you want to stay on top of your credit report. (more…)
How Your Credit History Affects Your Life
Saturday, June 12th, 2010Your credit history is one of those things about you that is important even though it isn’t right on the surface. It’s not like your blue eyes or dark hair that affect your looks, and it’s not even like your laugh or conversation skills that are obvious after a few meetings with you. Your credit history is a little bit more like your childhood hometown. It has an effect on everything you do, whether positive or negative, and it makes up a big part of who you are. (more…)
How Do I Get My Credit Reports?
Thursday, June 10th, 2010You may order your free annual reports from each of the consumer reporting companies at the same time, or you can order from only one or two. You can get one (1) free copy from each of the nationwide consumer reporting companies every 12 months. You need to provide your name, address, Social Security Number, and date of birth. If you have moved in the last two (2) years, you may be required to provide your previous address. (more…)
Are Credit Reports Accurate?
Thursday, June 10th, 2010The most valuable thing we have is your good name. The most common reflection of your reputation as a trustworthy consumer is your credit report. According to reports, the information contained in your credit reports, which are bought and sold daily to nearly anyone who requests and pays for them, does not always tell a true story. (more…)
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