Site set up by the big three credit reporting agencies in the United States, to furnish free annual credit reports, as required by federal law. Date of availability ...
Learn how high a credit score is needed to get a mortgage home loan. Find out if there really is a minimum and how your score affects your loan.
When will the new rules take effect requiring lenders to give people their credit score for free? What do I have to do to qualify for a free copy of my credit score ...
If your scores are below 760, you may not be getting the best rates for loans or insurance -- so doing some credit repair can save you money. So you've had ...
From Yahoo! Finance: How to Get a Perfect Credit Score
The Lending industry uses credit scores reported by three major industries to determine credit eligibility; Experian, Equifax, and TransUnion. These agencies house information reported by lenders and maintain a numerical score based on payment history, debt to income ratios, and total debt owed. Social security numbers are used to identify an individual's history. A score less that the mid 600's is considered poor. If you are denied a loan, you entitled to request a free copy of your credit report from the lender. Otherwise, contact the credit agencies to obtain a detailed credit history.
Free credit score agencies only provide one non-detailed score report for free, but can provide all three with a detailed history for a fee along with monthly updates. Many credit histories contain incorrect information that negatively effects your credit score. Only detailed reports can determine if these exist.
Improving your credit score is not easy, but can be done. The first way is to discontinue activity that causes negative issues to be reported. Late payments, frequent credit inquiries, and high debts all negatively impact credit scores. Paying bills on time consistently does work.
In addition, rectifying inaccuracies on your report by contacting the reporting firm to correct them will improve your score. Most credit agencies have affiliations with debt counselling firms that can contact lenders and negotiate payment terms making paying down debt easier. These agencies can be found on-line by searching for debt counselling. Increasing your credit score takes time, but is worth the effort.
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