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Your Credit Score And the 3 in 1 Credit Report

All of the three major credit bureaus issue their own credit report. If you want a summary of all of the reports combined you can get a 3 in 1 report. The 3 in 1 report comprises the financial history of an individual or a group in order to “report their credit-worthiness”. It is an estimate of whether or not they have the reliability to repay a new debt. A 3 in 1 report provides information from all three of the major credit-reporting agencies. Many financial organizations use the 3 in 1 report to assess an individual’s credit reputation ...
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Who Can See Your Credit Report?

With or without permission? Did you know that a collection company who is trying to collect a debt from you can access your credit report without your permission? They do it to try to get accurate information about you, like your current address. Potential employers can also access your credit report, in most states anyway. However, you need to grant them permission. And insurance companies. Because of course, it stands to reason that if you lost your job and got bad credit that you are a high insurance risk, more likely to file a claim, right? ...
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Barely Late?

And it can still show up on your credit report. Depending upon your lender and oftentimes depending upon your past history even a barely late payment can show up on your credit report, bringing your credit score down as much as 60 to 100 points. There is a myth out there that a payment must be 30 days late in order to be reported but reporting is always at the discretion of the lender and if they choose to do so they can report you late when you are even just a day late. And the really unfortunate thing about that is that anything from 1 to 30 days ...
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The Truth About Free Credit Reports

While a funny jingle may play out in your head and help you to remember that you can get a credit report for free, you may want to think twice about getting that report from the people in the commercial for freecreditreport.com Because (big surprise!!) it’s not free!! Nope. Not free! Over 11,000 people have complained that when they contacted freecreditreport.com for their free credit report that they received a charge on their credit card for $14.99. Because freecreditrerport.com is selling a credit monitoring service called Triple Advantage. ...
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Surprising Things That Can Damage Your Credit

You would be surprised at a few of the things that can damage your credit.  Often we take measures that we think are best for our finances and our budget but these very same things can negatively affect your credit score. For example, if you are not using a credit card you might think it would be a good idea to go ahead and close the account.  But if you do that it will negatively affect your credit score.  Much of your score is based upon the available credit that you have compared to how much you are using.  If you close the account then that ...
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Why You Need To Know Your Credit Report

A smart consumer will get a copy of their up-to-date credit report before making any major purchase that involves financing.  The reason for this is that a credit report and score can make or break your purchase and most credit reports do contain inaccuracies.  The problem is that most people are unaware of the erroneous credit on their report and they end up getting an unwelcome surprise. It has been estimated that as many as 75% of all credit reports contain serious errors.  These errors can prevent the individual from getting the credit that ...
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Misunderstandings and Myths About Credit Scores And Credit Reports

Can you check your own credit report without a penalty to your score? Does your income affect your credit score? Should you just close out a credit account to raise your score? Do all lenders use the same credit score and reports? Is paying cash for items a good credit strategy? No, No, No, No, No…………. For more common myths about credit check out this article.
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How To Get Your Free Credit Report

You are entitled to receive a current copy of your credit report from each of the three main credit reporting agencies at no cost to you one time per year. A 2003 amendment to the Fair Credit Reporting Act mandated that consumers could receive a copy of their own credit report for free one time each year. Getting this credit report helps you to stay current on your credit rating standing by being able to check for inaccuracies, erroneous information and to avoid identity thieves. If you need to do some credit repair, getting your up-to-date credit ...
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