Free Credit Report

Free Credit Report Online - The Advantages

2009-01-20T11:45:00.000-08:00

There are many advantages of getting a free credit report online. In order to experience these advantages you will need to give a lot of identifying information that could make your feel a bit apprehensive about the whole process. This may include your credit card information. You may have already gotten a free credit report and think it is enough to have one and see no real need to get another. When you visit the web sites, you will begin to realize the many advantages of getting a copy of your credit report such as getting a free dispute credit report letter or information on reporting errors on a credit report.

One of the greatest advantages is the opportunity to view your credit report any time you feel the need. You can have a look at it just before turning in for the night or just after waking or any time in between. Another distinct advantage of getting an online credit report is the fact that it is much quicker than the postal service, it is right on your monitor. This is ultimately important when you are preparing a plan to improve your credit or just want to see if the plan is working.

Other advantages of using the internet is receiving a free dispute credit report letter. A free dispute credit report letter can allow you to dispute any errors you find on your credit report. This is essential to getting and maintaining a good credit score. Furthermore, you can also use the internet in learning about reporting bad debt to credit report. This is another essential step in improving your credit score. The internet has an abundance of information regarding identifying and reporting errors on a credit report.

Overall, the internet is fast, easy and usually quite secure. You should have no problems getting a free report, reviewing it and learning just how to repair it using the many web sites available on the internet.

Free Credit Rating Check

2009-01-20T11:44:00.000-08:00

Why do you need to get your free credit report online?

You should get your free credit report online because you need to see and act on your credit report that is available to any potential lender, property owner, bank or other credit service. Your credit report is a major factor on the terms and interest rates that you receive on loans and other forms of credit. The facts about your financial history and activities can make or break a deal for you so it is important that you understand your credit report and that you monitor your credit report for errors that can affect your credit score.

Lenders are Interested in your Repayment History

Financial institutions, such as banks, are particularly interested in how regularly you pay your bills and repay your loans. If your credit report shows that you do not make regular payments then the bank may view you as ineligible for their credit and loan programs. If you are able to secure a loan with low credit report score, it can result in lower interest rates, a smaller loan and a shorter repayment schedule.

Take Advantage of the Internet

The internet and other technology have made it possible to get your full credit report upon your request from the three major credit agencies that are the Experian, TransUnion and Equifax. You can get a free credit report annually from these three agencies. You will be able to find plenty of online information about how to get your free credit report. Credit report websites can also have useful information about how to fix your credit score report. When you view your report, you will be able to seen who has requested your credit report.

Monitor your Credit Report for Fraud and Errors

Fraud can cause problems for your credit score so it is important that you regularly watch your credit report so you can detect fraudulent activity. Human error and outdated information can also lower your credit score so you have to monitor your credit report carefully so you can correct these errors. When you get your free credit report online, it gives you the convenience of checking your credit report with ease.

How Do I Get A Free Online Credit Rating Check?

Credit Reporting Agencies

2009-01-20T11:43:00.000-08:00

Credit reporting agencies maintain electronic records of your credit activities. Today, there are three major national credit bureaus: Equifax, Experian and Trans Union. If you are planning on applying for a loan or credit anytime in the near future, it's a good idea to obtain a copy of your credit report.

For a fee, you can request a copy of your credit report at anytime by contacting one or more of the major credit agencies. Or you can receive a free copy of your credit report through one of the many credit companies available on the Internet. Our favorite source of information on credit reporting agencies on the Web is www.credit-report-credit-score.com

The Fair Credit Reporting Act was amended a few years ago to beef up consumer privacy. Under its rules, you are legally entitled to obtain your credit report from a credit reporting agency. This includes receiving a list of everyone that has requested your report.

Free Instant Credit Report

2009-01-20T11:42:00.000-08:00

What is a Free Instant Credit Report?

Some may know that credit report is actually your credit history. It contains the data collected from various sources by the credit bureaus. Credit report gives detailed information about financial position in your business life. This report also reflects your late credit payment. Hence it’s very important that you pay all your debts on time. Remember that a good credit report is an added advantage if you are looking to purchase something very expensive. For instance, if you are considering buying a house in the near future you need to have a healthy credit report. A healthy credit report is the best way of impressing your bank or money lenders.

Is it necessary to keep a check on our Credit report?

Many people want an answer to this. Knowing your current credit report is important, but one has to be equally cautious while getting this information. You need to check your credit report at least once in six months. Remember checking your credit report helps in protecting your credit rating. Moreover, it also helps you to keep a check on your creditors. There may be times when your creditor might fail to report a past due balance.

Free Instant online credit report contains a complete summary of your personal information. It contains your name, your residential addresses, contact number, Social Security number, month and year of birth as well as your employment information. It also contains information about any bankruptcy in your credit report. Your financial institution may periodically obtain your credit report so as to maintain your up to date records.

There are various types of credit report such as business credit report, consumer credit report, yearly credit report, etc. Initially there was strict prohibition on disclosure of instant credit report but now any person can apply for his/her credit report. Many lenders and retailers who extend credit facilities entirely depend on credit report and score to give credit to their customers.

How To Get And Read A Free Online Credit Report

2009-01-20T11:41:00.002-08:00

It is important that you understand how to read your free credit report because of the great impact that your credit report score can have on your life. When you understand your free credit report and your eligibility status for credit and loans, you will be able to take action to fix your credit score if your credit score is low.

You and any Lender can examine your Credit Report

You can receive your free credit report online from different websites. It is a requirement of the Federal Trade Commission that you be provided with a free credit report annually from the three major credit agencies that include Experian, Equifax and TransUnion. You can get your free credit report online from any of the many websites that are available to help you with obtaining it. Your credit report can also be requested by banks, credit agencies, property owners and other credit services.

Five Elements of your Credit Report

Your credit report is divided into five main areas:

Your personal information is on the report and this includes your name, address, phone number, social security number and other private information.
Your credit report will have information from collection agencies that have a history with you.
Information from public records, including items such as civil judgments and bankruptcy, will also be contained in your credit report.
Open accounts such as leases, utility accounts, credit cards and loans will appear on your credit report.
You will also be able to view the requests for your credit report that have been made by banks, lenders and other interested parties.

Carefully Check your Credit Report for Errors and Fraud

When you receive your credit report and you know how to read your credit report, you can familiarize yourself with all five elements of the report. Check the data for any errors, fraud, theft or outdated information. Fraud is a common activity and if unchecked, it could affect you negatively by lowering your credit report score. When you read your free credit report and you do find any errors that affect your credit score, contact the credit agency for error correction.

Free Credit Report Online That Helps

2009-01-20T11:41:00.001-08:00

If you are searching free Credit Report online, you might have the chance to view this article. What I am going to tell you first is that getting free Credit Report online does help you to watch over your credit history time by time. Nevertheless, is it really free?

It is worthy if you can really have a way to get a free Credit Report online or cheaper than what it should be. Most financial issues can effects your credit. For example, if you forgot to pay your newspaper subscription the last $10 bill, the company might report it to Credit Bureaus and it is going to hurt your credit score that you might not even notice unless you buy one or get a free Credit Report online.

Getting a paid or free Credit Report online on the other hand will let you track down those fraudulent applications under your name or identity. For example, credit card application or product purchases etc. Frankly, getting your bad credit restored is much more difficult than getting a free Credit Report online. It could take at least six months to a year in order to prove to your supposed creditors that it was not you who made the purchases or application. So, do not let those thieves spoil your credit and you can do it by keeping your eyes on.

Free Credit Report No Credit Card Required

2009-01-20T11:40:00.000-08:00

Looking for a free credit report no credit card required? Credit agencies have to give free annual credit reports if asked to do so. You can learn more about getting your free annual credit reports no credit card required, and by yourself learn to target your ideal score. Keeping a track of your credit score will help you measure what the lending companies are willing to loan you. I have yet to come across somewhere where you get free credit reports, and also get your credit score. Most free credit reports don’t give your score along with the report.

Getting your free credit report is major when you have knowledge and control over your financial information. While obtaining your free credit report you should have no obligation to commitment to anything. If you are trying to obtain your free credit report online, do not use a public computer to access this information. Using public computers to access your free credit report may cause you personal information to be stored on that computer. The free credit report helps people protect themselves from identity theft and fraudulent credit applications. If you see something that appears suspicious, you can contact the credit agency to report it. If you obtain your free credit report annually there would be no reason to go out check it yearly because it will automatically come to you.

Just because you never had a credit card or a loan, doesn’t mean you do not have view your free credit report. The notion is that your free credit report what allows people to use your identity to acquire credit in your name. You always need to check the information to make sure it is correct even if you have no credit. Get your free credit report today!

When You Are Eligible For A Free Credit Report

2009-01-20T11:39:00.000-08:00

By Federal law, you are entitled to one free credit report per year directly from a credit-reporting agency only if you certify that:

1. You are unemployed and seeking employment in the next 60 days.

2. You are receiving public assistance.

3. You believe there are inaccuracies in your credit report due to fraud

4. Also if you have been denied credit on the basis of information in a credit report, you are entitled to a free copy of your credit report from the credit bureau that supplied the credit report.

5. Residents of Colorado, Maryland, Massachusetts, New Jersey, and Vermont are entitled by state law to one free credit report from a credit-reporting agency per year. Residents of Georgia are entitled to two free credit reports.

To obtain the excellent credit report service, get FREE online Credit Report, make your Credit Score higher, avoid becoming a Victim of Identity Theft, or correct your credit visit Legalhelper.ws.

Your credit score is important for obtaining credit. Your credit score is important to know, whether you need a new credit card, an auto loan, or a mortgage. Lenders use your credit scores to decide whether you are a good credit risk. If you have a high credit score, you are more likely to obtain the best rates.

Bad credit costs thousands of dollars

The Truth About Your Free Credit Report

2009-01-20T11:38:00.000-08:00

The free annual credit report has already made a turn in court. Somehow the meaning of the word "free" is very difficult to understand for some people.The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies - Equifax, Experian, and TransUnion - to provide you with a free copy of your credit report, at your request, once every 12 months.You should ask yourself the following questions to see if you are fully informed about your free credit report:

How do you order your free credit report?
What information do you need to provide to get your free credit report?
Why would you want a copy of your free credit report?
How long does it take to get your free credit report after you order it?
Are there any other situations where you might be eligible for a free credit report?
Should you order a free credit report from each of the three nationwide consumer reporting companies?
What if you find errors - either inaccuracies or incomplete information - in your free credit report?
What can you do if the consumer reporting company or information provider won't correct the information you dispute in your free annual credit report?
How long can a consumer reporting company report negative information?
Can anyone else get a copy of your free annual credit report?
Can your employer get your free annual credit report?
Learn how to make extra money so you don't need a credit report
The internet can change your financial situation very quickly if you know what to do.

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2009-01-19T19:12:00.001-08:00

How to Get Great Credit Repair Results

2009-01-19T19:11:00.000-08:00

The Foundation of Credit Repair Success

It's time to take stock. Where are you today? Are your finances stable enough to make timely payments on your obligations from this point forward? Credit repair can completely transform your credit and even put you on the path to long term wealth. But to be a good candidate for credit repair you must be able to keep up with your existing commitments. There is no point in making the effort if you are still slipping backward each month. If you can commit to timely payments from this point forward you are a candidate for genuine credit repair success!

Understanding the Nature of Credit

Credit repair success can be measured by the changes in your credit scores. Cleaning up all of the erroneous reporting issues from your credit report is essential, but in the final analysis it is your credit scores that will tell the tale. Credit scores are the result of everything on your report. As important as eliminating negative items may be, the presence of positive credit is even more important. In short, good credit scores require the presence of open and properly managed accounts. Managing your accounts for credit repair success is easy if you know how.

Your Accounts and Credit Score Optimization

As odd as it seems, you may make all of your payments right on time, for years on end, and still have awful credit scores. The good news is that a bit of knowledge can turn things around on a dime and lift your scores dramatically. There are two parts to this credit repair secret; type of credit, and account balances. When it comes to your credit scores not all credit is created equal. It is simple; mainstream credit cards, such as MasterCard, Visa, American Express, and Discover are good. Store cards and consumer credit, such as furniture store loans, are bad. If you have store cards or consumer debt you should work on paying it off. Now, let's chat about managing those good mainstream credit cards for credit repair success.

Revolving Account Management

If you don't have any good open credit cards, open them now. If you can't get approved for unsecured credit, just get a couple of secured cards. They are easy to get and you won't be denied. Once you have your credit cards you are in a position to really get your credit scores moving in the right direction. All you need to do is get the balances under twenty percent of the cards capacity. If you have a five hundred dollar card get the balance under one hundred dollars and watch your scores take off. Conversely, you need to know that a balance near the card's limit can knock as much as one hundred and fifty points off your score. If you have high balances, don't worry. As soon as you pay the balances down your scores will pop right back up (just allow time for the creditor to report the new balance to the credit bureau).

Whipping Your Credit Report into Shape

Credit repair rule number one: Give yourself the benefit of the doubt! Don't believe everything on your credit report just because it is in writing. If there is any chance a derogatory item is erroneous, dispute it! For goodness sake, it's your credit and it's important, so get pro-active, or hire a professional credit repair service to manage the process for you. There is plenty of evidence to support an aggressive approach to credit repair. Over seventy five percent of all credit reports contain errors. The majority of these errors cause consumers to pay premium interest rates on the money they borrow. Don't be victimized.

Two Handy Credit Repair Tips

Once you get into the task of cleaning up your credit report here are two handy credit repair pointers that can help you out. First, legally, collectors are supposed to withdraw their reporting of an account as soon as they sell the account or return it to the original creditor, but they rarely do. Challenge all questionable collections. And, second, credit card issuers have been known to underreport credit card limits. This underreporting has the same impact on your scores as if you had run up your balance. Proofread your reports carefully for accurate credit limits.

Don't be Afraid to Ask for Credit Repair Help

Reach out! If you don't have the time to manage the job of credit repair on your own call a pro. A credit repair professional will review every single detail on your report. They will be able to identify your credit score optimization options, find deficiencies in your credit, and dispute all of the questionable derogatory issues in an experienced and efficient manner. Good luck with your credit repair project!

Credit - Barriers and Insulation

2009-01-19T19:10:00.000-08:00

Standard measures are those taken to avoid mistreatment from debt collectors and to give them some difficulty in their research efforts. They wish to know everything they can about you, but mostly what they can take if all else fails.

Dodging your creditors isn't what collection avoidance is about. However, using a frontal attack against a superior force is suicide. A flank attack is smart and will often prevent debtors from having to file bankruptcy. Although your best results will likely come from making a deal with creditors, stay in the hills, meeting them on your terms.

The following standard measures are not only good for dealing with collectors on your terms, but they will also protect you from unwanted intrusions, which can take many forms, and by combining them with the right identity theft prevention techniques, it is also good for your overall safety and sanity.

• Get a PO Box. This prevents collectors from knowing your hard address. Bear in mind, however, that the USPS will reveal a true address if a written request indicates that legal papers are to be served on the box holder.

• When you move, don't file a change of address form with the post office, or if you must, list a PO Box or private mailbox. If you get a PO Box, don't list a business name. You can also provide an old hard address, which is illegal but not a hanging offense. Simply claim "negative habit transfer" if caught. ("Oops, I'm sorry! How silly of me.") In many states post offices will simply require two forms of ID when you apply for a box, whereas states such as California will perform a full-on rectal exam, requiring IDs, a rental agreement, and other documents. Sometimes Mail Boxes Etc., The UPS Store, or similar businesses will have less stringent requirements for opening a mailbox.

• Get an unlisted phone number. If you can, get rid of your landline and use a cellular phone.

• When you call collectors, be sure to use caller ID block (start your call by dialing *67) so they can't get your number. Understand that if you are calling a toll-free number, caller ID block doesn't work. In this case, you might want to get the collector's toll number with area code.

Stop Using Your Credit Cards

2009-01-19T19:09:00.000-08:00

The average household now carries an average of between $6,000 and $10,000 in consumer credit card debt. But there an unfortunate number of people who have more than $100,000 in debt from using multiple credit cards. Consumers rely on credit cards more than ever before and may pay interest rates of more than twenty percent. Added to annual renewal fees, membership fees, and other expenses, the cost of using a credit card, not to mention making minimum monthly payments on the balance, can take a sizable bite from most people's budgets.

If you are having trouble using credit responsibly and would like to stop using credit cards as much as you currently do, or perhaps for good, start by following a few basic steps to stop being so dependent on plastic money.

1. Cut up all credit cards but one. If you can't use it, you can't run up more debt. Some consumers keep a single card for emergency purchases only, and they store the card in the bag of ice that stays in the freezer so that the card must first be defrosted, thus heading off impulse shopping. If your budget will let you use cash only, cut up the last card, too, and don't open any new accounts.

2. Make out a monthly household budget and follow it. Include mortgage and utility costs, medical deductibles or insurance premiums, food and gasoline, car payments and credit card accounts, clothes, pets, haircuts, auxiliary expenses like the newspaper subscription, entertainment, and anything else that your family uses on a regular basis. Don't forget about car insurance and car maintenance, even if you don't pay these each month but use a six-month or annual payment plan, instead. It's also a good idea to open a savings account for emergencies, even if you can afford to deposit just $25 or so each month.

3. Use an envelope system. A popular plan that many people use is to put cash in monthly envelopes marked for specific purposes, although some bill payments may automatically be deducted from the paycheck first. For example, put $300 in an envelope for groceries, $50 for medical deductibles, and perhaps $100 for clothes. Whatever you don't use in a given month can be added to the next month's amount and used for larger purchases.

4. Don't even open credit offers that come in the mail or email. Discard or delete them immediately so you won't be tempted.

5. Carry just enough cash to cover planned purchases. Bringing more may tempt you to spend for things that aren't in the budget. But if you carry too little, you may end up getting tempted to open a charge account at one of the stores where you shop.

6. Get an accountability partner. Ask someone you trust, like a spouse or close friend, to hold you accountable for credit management. Perhaps you can become that person's confidante for an area of special need in his or her life. Make a weekly or monthly report to let your adviser know how you're doing. Just knowing that someone is watching may help you stay on track.

Credit Bureau Dispute

2009-01-19T19:08:00.000-08:00

Disputing negative marks on your credit report is the most effective method of improving a low score. A better payment history accounts for up to 35% of your score. Removal of these marks helps because it will show a better payment history.

You need to contact each bureau and send a dispute letter. They will often reply with a letter requesting more information about the item.

This is a stall tactic. Instead of actually investigating, they delay because it is more cost effective. People will most likely give up at this point and keep on paying extreme interest rates.

Continue to be determined. Sending another letter with the requested information will eventually cause them to investigate. During the investigation, they will contact the lender to verify the item.

It be removed from your report if the lender cannot verify it. Lenders frequently do not want to spend money and time verifying a noncollectable debt. Therefore, for the best results, we suggest you wait until the lender has received a payment for the outstanding account.

For example, since they have no more use for a charged off account that is sold to a collection agency, they will not take the time to confirm the account when contacted.

It is much easier to remove a charge off once it has been sold rather than outstanding. You can do it yourself by creating a dispute letter or you can hire a service to do it on your behalf.

The benefit of a service is that it provides you with more options to remove a mark if it is confirmed. Services can ask for creditor direct interventions, debt confirmation, escalate dispute information requests, and in severe cases, an attorney can go to court and fight on your behalf.

Your credit score is a very important number, as it impacts your finances, place of employment, residence, and many more. Approximately 25% of Americans have an error on their report and it is costing them money in higher interest rates.

In sum you can repair your credit yourself through dispute letters or by hiring a service to do it on your behalf. You can remove negative items and stop paying the high cost of a low score.

Repossession Credit

2009-01-19T19:07:00.002-08:00

A repossession on your credit report will cause you to pay outrageous interest rates and big down payments. It is a very severe mark. It will make it difficult to be approved for any new loans. Additionally, it will remain on your report for seven years. It is possible for you to remove this mark. Following is an explanation on how the procedure works.

First, when your car is repossessed it can be resold. You will be responsible for repaying any loss the lender takes. If you are found responsible, you will be sued and a deficiency judgment will be placed against you.

If you have a deficiency judgment, this will be reported on your credit as well. Future unsecured loans will be next to impossible to get if you have either one of these marks. We suggest you wait until the car is resold to challenge the item. Also, wait to see if the lender sues you for any damages or loss. You should then dispute it. This is done by sending a dispute letter to the bureaus.

You can write this letter or hire a service to do it on your behalf. This letter must provide an explanation as to why the mark is inaccurate. Once the bureaus receive it they will conduct an investigation into the listing. They will contact the lender and ask them to verify that the account is; yours, the reported dates, and the balance.

We advise waiting until the lender receives some type of payment. If some form of payment has been received, the lender is much less likely to spend the time or money verifying the item. In addition, an item must be removed from your report that is not verified. Deficiency judgment marks should be disputed as well. It is reported that the bureaus do not check public records when investigating a mark, which is where they would find verification of this.

In summary, you do not have to feel embarrassed or pay high interest rates every time your credit is run. Repossessions are removed from reports every day.

Restore Your Sanity Back to Health When Your Credit is Restored

2009-01-19T19:07:00.001-08:00

Does your credit score need life support?

If so, chances are your sanity is suffering trauma and needs rescuing.

Your sanity is often the first to suffer when there is any pressure with personal finances. Sanity is vital to making good and timely decisions. If your credit score is in the poor or fair range, you need to get your sanity back so that you can get your credit score back to the good and even excellent range.

Try these 4 steps immediately and watch sanity start to return:

Write everything down that is bothering you in a spiral notebook.
Circle only one thing that you can fix today or tomorrow.
Fix that and use your favorite color marker to highlight it done.
Repeat steps 1-3 tomorrow.

This four step formula might seem oversimplified but it works like a shot of oxygen to a victim having an asthma attack. It's quick and to the point.

Of course, there's more that you can do but this gives immediate relief to sustain you until you can do more.

Be sure to use the spiral notebook and the highlighter that's your favorite color. These two things are very important.

The spiral notebook (the cheapest kind) is important because it keeps your list and your accomplishments all in one place. It eliminates a bunch of random sheets of paper to keep track of, adding to your angst.

The color of the highlighter is the most important of all, though.

Why?

Well, there's a psychology behind this that if we use the color we love the most, we will want to see it more. Every time you see this when marking off an accomplishment, you'll want to cover more and more space in your notebook. Very soon, you'll start accomplishing more just to be able to use and see the color that turns you on!

I bet you're getting your notebook and highlighter ready right now, aren't you? Hello, sanity!

Mary Theresa McLean coaches people through perplexing credit related dilemmas of life.

Benefits of Using a Prepaid Credit or Debit Card

2009-01-19T19:06:00.000-08:00

A prepaid credit card works just like any other credit card - with one major difference - the money you will be spending when you use it has been previously deposited into a secure account. Like a gift card, when the deposited money is gone, you can no longer use the card. But unlike a gift card, you are not limited to purchases at a particular merchant but can use it at any store that accepts major credit cards.

With no or a bad credit history, it may be difficult to qualify for a standard credit card. But when a card is needed, an easier solution may be to apply for a prepaid credit card. There is no worry about your credit history or more debt, because you are not borrowing any money but actually using your own money. You will be depositing funds into a secure account and using the card like a gift card until the funds are depleted or additional funds are deposited.

Other advantages include an easier way to track spending and with the ability to limit the amount of funds, many parents provide them for their college students and teens. The account activity can be monitored online to help keep within a budget. The balance can be checked or loaded with additional funds online or over the phone.

A prepaid Visa or MasterCard is a safe, secure way to carry your money. When traveling, using one allows you to leave your checkbook at home. It also offers convenience when a merchant only accepts cash or credit. You also have the security of knowing that you must sign for every purchase, making it difficult for a thief to use your card. In addition, if your card is ever lost or stolen, you can cancel it with a simple phone call.

Make sure you read all the fine print in order to find the offer with the best terms when you're shopping for a prepaid credit card to meet your needs. When you compare offers, find one that has a PIN number that will make it possible to use the card anywhere you would normally write a check. Be sure to understand all of the fees and any minimum balance requirements.

5 Essential Reasons to Check Your Credit Rating's Health

2009-01-19T19:05:00.000-08:00

1. Getting your House in order

In the current financial climate now more so than ever, it's imperative to get your house in order.

As lenders become tighter on what they look for in a customer this has left vulnerable people exposed to lenders with higher interest. Therefore having a good Credit Rating could be the key in making sure you keep your head above the water and stay away from the sharks.

2. The Key to Cheaper Finance

Why is your Credit Rating so important? Many people would not give this a second thought, much less actually do something to improve things. Other people, whilst they may be aware of its existence, they would not necessarily understand the reasons for its importance.

Basically a good Credit Rating is the key to finding cheaper finance.

There are lenders prepared to lend to the 'higher risk' category of person, but these lenders will create different categories of loans to which those people with lower credit scores would qualify.

These different 'categories' of loans work in favour of the lender, and those with the lower credit scores will invariably have to pay higher interest rates, and incur less favourable conditions than those with a higher credit rating score.

That's unfair, you may say, but if you consider it from the other side of the coin, the lenders do have to guarantee their own business as well.

3. Banks look at your Credit Rating Report

It does seem pretty obvious to point this out, but credit reports are principally about assessing you as a safe financial bet. Banks and other lenders are obsessed with credit ratings. They need to ensure they are going to get their money back, should they provide you with credit.

Therefore your Credit Rating, or your 'score' if you will, is going to ensure the banks and lenders can assess your ability to repay. This is then used to either approve or reject your credit application.

If you have been unfortunate enough in the past to default on a repayment or two, your will have a lower credit rating score, and therefore you may incur a higher interest charge from a lender, should they even consider you at all.

4. Somewhere to Live

Other occasions when credit rating reports are utilised is when you are applying to rent or lease accommodation. This enables the prospective landlord to assess whether you will be in a position to pay your rent on time.

5. Job Applications

These days there is a trend among employers to use credit ratings when assessing job applicants. Whilst every prospective employee will be rated on his or her merits, there is a consensus of opinion that a good credit report is a good sign that the applicant is reliable and worthy of consideration for employment.

This seems most unfair, as the time that someone really needs a job is the very time they are probably in greater need of cash to help ease their financial problems.

Check out your Credit Rating Report

To get a free credit report simply Google 'free credit report'. It's as easy as that! Ok you will have to submit full details about yourself and your credit card, but once this is complete you can instantly log on to your free credit report. Remember to cancel your membership before the end of trial period, otherwise you will be billed for the membership.

So, with the above in mind it stands to reason it's in your own interest to keep your credit rating squeaky clean.

Requesting Copies of Your Credit Report

2009-01-19T19:04:00.000-08:00

As you know, there are three independent reporting agencies- Equifax, Experian, and TransUnion. Thus, it's necessary to request your report from each of them. Then, if corrections need to be made, it's necessary to contact each reporting agency separately. In addition to your report, your unique credit score is available for a small fee. Your credit report is available for free from each reporting agency once every 12 months.

An alternative to requesting individual reports from each reporting agency is to obtain a comprehensive three-in-one credit report. This is a single report that compiles data from all three reporting agencies (and in many cases, includes your credit score from each bureau). It's necessary to purchase a three-in-one report or subscribe to a credit monitoring service.

There are three ways to obtain a free copy of your report. As you'll discover, the fastest and easiest method is to initiate the request online. In less than five minutes, you can be viewing a copy of your report on your computer screen (or print out the information in an easy-to-read format).

You can request a copy by completing a single-page Annual Credit Report Request Form or by sending a letter to The Annual Credit Report Request Service. You can also call one toll-free number to have copies of your report mailed to you.

When you request a free copy, it will not include your credit score. For a small fee (under $6), you can request your corresponding score from each reporting agency when you receive your free report. When obtaining your credit score, be sure it's a genuine FICO Score.

The ACRRS is sponsored by all three reporting agencies and authorized by the Federal Trade Commission. It allows you to request one, two, or all three of your reports with a single request. This can be done by mail, phone, or via the internet.

CLICK THE PICTURE BELOW FOR YOUR FREE CREDIT REPORT

2009-01-13T11:02:00.000-08:00