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What Is A Credit Report?
   
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Live Like A King Not A Pauper In Retirement
We all have choices in life, and we know that some choices we make affect not just us but our family and we also know that many choices we make today will .....
Even if you have heard of a credit report, you may not know exactly what it is. If so, this credit report article is for you. Learning about your credit report is important in any campaign to eliminate credit card debt and obtain a good credit status. So, you should at least know the credit report basics.We all have choices in life, and we know that some choices we make affect not just us but our family and we also know that many choices we make today will .....
What is this credit card report then? For a start, whenever you borrow money from a legitimate commercial lender, your record of repayments will be public. Each time you make a payment, whether it is on time or late, it will go on the record on which your credit report will be based. Also, each time someone requests a copy of your credit report, that will be noted as well. If you are involved in a bankruptcy, or have a tax lien, it will all go on the credit report.
So, as you can see, your financial transactions, as they involve credit and debt, will be available for all to see.
Why Does the Credit Report Matter?
A credit report is often thought of as something that lenders use when deciding whether or not to extend you credit. That is trueyou will not be able to apply for a credit card, car loan or mortgage without the potential lender first checking to see if you are credit worthy. Additionally, though, insurance companies are now using credit reports to determine whether or not someone would be a good risk, as are employers. If you are thinking of renting an apartment, house or commercial space, remember, you will need a good credit report!
Getting a Copy of Your Credit Report?
You have decided, then, that your credit report is something you should take an interest in, and you are right. But how do you get a copy of your personal credit report? There are three credit reporting agencies, and its a good idea to get a copy of your report from all threejust in case there are discrepancies. The credit report agencies are:
Experian (located at www.experian.com)
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It is possible that after a few years you might get sick of
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Trans Union (located at www.transunion.com )It is possible that after a few years you might get sick of
making monthly payments on your home. Then it occurs to you, why
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Equifax (located at www.equifax.com)
You will have to provide the following information to the credit reporting agencies, in order to get a copy of your credit report: a) your full legal name, (b) your current address, as well as your last (if youve been at your current one for less than five years), (c) your date of birth, (d) your social security number and (e) a signature. You are entitled to one free copy of your credit report every year, but you will need a copy from all three agencies. Expect to pay a small fee to receive any other copies.
What Are The Other Free Credit Reports?
It also may be possible to get a free copy of your credit report if you meet certain criteria. They are:
* You are unemployed, but plan to look for a job within the next two months.
* You have been the victim of credit identify fraud, or some other fraud that will affect your report.
* You are currently receiving welfare payments.
* Youve recently had a credit application turned down.
Discover The Parts Of A Credit Report And What They Mean
So you ordered a copy of your credit report to check for inaccuracies and get the most from your credit score. Now how do you read it? Your .....
What If You Don't Like What You See In Your Credit Report?So you ordered a copy of your credit report to check for inaccuracies and get the most from your credit score. Now how do you read it? Your .....
If your credit report has bad marks on it, you have two possible courses of action, depending on whether or not the marks are true. If you have made some mistakes in the past, there is no magic formula that will erase them! You will have to get some helpeither through a credit counseling companyor simply work to pay off your debts and be on time with your payments. Those marks will stay on your report for seven yearsor ten years for a bankruptcy.
If, on the other hand, you find that there are false statements on your credit report, you have some options to clear them up. You should write a letter to each credit reporting agency explaining the mistake, along with any proof that you have to back up your claimssuch as paid receiptsand then wait. They will have 30 days to investigate the claim and make a decision.
Having a good credit report is key to all your financial future as far as credit transactions go. If you have never seen your own credit report, why not take the step now and get a copy?