Whether you like it or not the rules are set according to your credit score. Here's what that means. If you have good credit, then you set the rules. If you have bad credit, then you will not have any choice other than to play by somebody elses rules and it will cost you. Because research has proven that your credit report, although it is based on your past payment history, it still is the most accurate 'crystal ball' of looking into the future regarding how you are likely to act pertaining to financial decisions. So the bottom line is, you are a better 'bet' for turning out to be a good decision if you good credit, and if you have bad credit, then the 'chips are stacked against you'.
The customary practice is for whoever is looking to provide you with credit will be the ones who will get the personal information they need from you and simply input this information to their credit service and your credit score pops up right away. This process is often called 'running your credit' or 'pulling your credit'. Once they have the results they will compare your credit score with what standards they require and you will either be accepted or rejected.
Logically, you would want to have an idea of what is on your credit report before somebody or an organization is going to see it to make a financial decision that could make or break you. Right? If you have something negative then if you know it ahead of time you can prepare and explain the situation that caused the blight on your credit. This is always better than then being surprised by something negative on your report.
One reason that you may want to try getting a free credit report is to know if you are becoming a victim of identity theft. You have to remember that identity theft is becoming one of the most serious crimes today which is continuing to grow. Identity theft is where someone will use your identity for committing fraud and in most cases, credit card fraud. By constantly checking your credit score, you will be able to know whether you have been a victim of identity theft or not by checking the records.
Another one of the biggest reasons to keep an eye on your credit is because the big three credit agencies often make mistakes. Unfortunately most of the mistakes are the kind that hurt you and not help you. By verifying the information on the different reports you can police what they do. And you have to admit, that nobody will watch over you like you will, and remember-big companies are run by people who often mean well, but you will suffer, not them.
Good news is there are really only the big three credit reporting agencies that you will need to request your free credit report from. The bad news is there are only the big three. Since there is only the big 3 credit agencies they basically have a monopoly on your credit score so you better play by their rules. The 3 are Experian, Equifax, and Trans Union. As mentioned before you can get your report Free on an annual basis.
As you can see, it is quite important for you to get a free credit report. By doing so, you will not only be able to check whether you are becoming a victim of identity theft as well as have knowledge about your credit score, but you will also be able to fix your credit score if there are any irregularities in the reports.
There is really no way to spell out all of several number of benefits to getting a free online instant credit report. It is not an overstatement to say that your finacial future depends very heavily on your credit rating. Since that is the case you really should do all you can do to make sure you get, keep, and monitor the highest and best credit score you possibly can.
Remember these tips and you can be sure that you will be able to obtain your credit report and also make sure that you have a good credit score or rating before you actually apply for a loan or a credit card.
How much is enough you ask? The answer is there is no such thing as enough precautions when it comes to protecting your credit score. Paranoia is good when it comes to watching your credit history because your credit score is basically your financial axis that your financial world spins around. Besides, you can get the credit report absolutely free. That makes this a no brainer.
I genuinely desire that you have found this information to be useful, but more importantly I hope it motivates you to go get your free credit report today and take the steps necessary to protect your financial future.
About the Author:
David T. Johnson gives Controversial But True Information About Getting A
Free Credit Report as
well as the best credit
report services at www.FreeOnlineInstantCreditReport.com
Free Credit Report as
well as the best credit
report services at www.FreeOnlineInstantCreditReport.com
0 comments:
Post a Comment