Best Credit Report-Want to know the best credit report for
you, and why you should have one for your record? Have you
ever applied for credit and been turned down and wondered
why? This is one good reason why you should have a current
copy. Have you applied for 0% interest on a car loan, only
to be told your rate is higher? Have you applied for Job
and been passed up, maybe because of your Credit History?
Have you tried to open a checking account and been told no?
Most of these mentioned are reasons why you should make
sure you have the best credit report possible.
Example of bad to good credit scores:
- 780-850 - Low Risk
- 740-780 - Medium -Low Risk
- 690-740- Medium Risk
- 620-690- Medium High Risk
- 620 and Below - High Risk or "Sub-Prime
What is your credit score? Do you keep on top of it so you
don't get told no? We all need the peace of mind knowing
what our credit situation is. A score of 620 to 650 could
mean an opportunity lost, like a new job, or a lower
interest rate etc...... As a lender I see more people out
there that have bad credit than good. I think this is a
huge problem. Maybe it is because people are not being
taught how to manage here money properly. There is a good
chance that parents did not educate you in regards to how
important your credit is, and how it will affect your
personal life.
Your personal Identity is important now; this is a good
reason why you should have a current copy. Every 3 seconds
someone's Identity gets stolen. This is another reason to
have a recent copy and have monitoring set up. The
monitoring services that are offered give you e-mail alerts
when critical changes take place to your credit report.
This is a valuable service, when it comes to ones
creditworthiness.
Inaccuracies on your file need to be watched also.
Sometimes creditors will report late payments when you did
not pay late. A late payment on your credit report will
lower your score 50 points or more. I personally see this
all the time, where items are reported incorrectly. Another
problem is where a creditor will report the amount of
credit granted on a card less than what they gave, and you
have charged more than 30% of allowed credit, this will
drop you score. Maybe you are a junior, and your dad has
some derogatory credit being reported, and because your
names are the same it's showing up on your report. This is
a common problem, and needs to be fixed. There are so many
different variables that could affect your file.
In order to make sure you have the best credit report
possible, make sure you are on top of your credit.
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http://www.my720fico.com is the nations leading resource
for credit reports,credit scores and credit report
monitoring.Learn what most don't know.
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