Free Credit Score - The Information You Must Know About November 4, 2009Posted by janey in : credit score , comments closed
If you apply for example for a new credit card or car loan, the creditors may request your credit score to see if you are a reliable person. You may wonder that everybody is talking about this credit score, but what is it?
If to make a closer investigation of this issue, you will find out that, in a word, credit score is your credit risk. Actually, this score may show the creditors if you are an acceptable risk. As in every program here are also some factors that may influence your score. To the best of our knowledge, the first one is your bill payment which may show if you are able to pay. If you delay with the payments it will net be an advantage for you. Consequently it will be depicted at your score as fewer points. The other point is that the creditors are always looking through your credit history. If it is accurate and long enough – you have more chances to get a new one. If your history is short – it may as well reduce your credit score.
It would be useful for you to know that if you have a debt it would be negatively depicted in your score. On the other hand, if your credit card is almost empty, your credit score may become less as well. As far as the issue is concerned, the creditors often check what period have passed since you had a previous credit. If you constantly apply for credit – it all is depicted on your credit score. To tell the truth a lot of credit card accounts may negatively influence your score, but anyway if you have more than one card account it is better than only one. So far as is known, the creditors may also check if you have any loans from finance companies – if any – it is also not quite good. Such, at first sight, insignificant factors as your type of job, length of employment or even home ownership etc may also greatly influence your credit score.
You may ask why do I need this credit score and do I need it at all? Can I live without it? The answer is simple: the credit score is your guarantee to get a new credit. Moreover the points on your score may assist in getting better terms and low interest. Furthermore, this score determines if your application will be reviewed at all!
Sometimes it may happen that the creditors may deny your request, in such case you have every reason and right to ask. According to the law such companies should provide specific details why you’ve got denial. Don’t be surprised if the reason is too low credit score.
In daily life we can find many examples how good info applied properly can save you from big troubles. With credit score this is also the case. With free credit score info in your hands you can act accordingly.
Need Help and Knowledge About Free Credit Score - Find them Here November 2, 2009Posted by janey in : credit score , comments closed
Many of your at some time may need your credit score, and for that reason you asking for a credit report would be a good idea.
Imagine you plan to get a car loan, or a mortgage, or even a credit card, than beyond doubt you will need your credit score to have an idea of what is in stock for you in terms of credit. And here, a credit report comes in handy.
The average credit score is 675 and if the bank rejected your application for a car loan, your credit score is surely below this level. Getting and reading your credit report will give you the idea why your credit score is so low.
In fact, getting a credit report is no problem at all. If you are connected to the Internet you can conveniently apply and get the report without even leaving your cozy home or busy office. Nowadays there exist different services that would help you receiving the credit report upon your request. However, there are a few pitfalls you really need to know to be alert.
If the site offers you to provide a credit report for free, be sure that there is no such thing as free lunch. You might be waiting for your report for ages while they will get your credit card number, personal information and ID number. Maybe, they are too busy to deal with your credit report but there is a chance that there are some thieves who will use your personal information for their benefit.
The best choice in your case is applying to a renowned credit reporting services. Though they charge some small fee for your credit report and credit score, you will receive your report on time. As a credit report and credit score are worth getting and thus the small fee would be a reward.
Our advice is to spend some time to make a research of different credit report sites. According to statistics, about two inquiries are made once a year by an average borrower. Yet, there is a possibility that your credit report may contain mistakes or inaccuracies. If you find any, turn to the agency for correction, and then double check requiring credit report a second time. Also, if your credit history changes, do not forget to request reports with updated information.
Well, as soon as you get your credit report and get to know about your credit score, it is the time to go apply for credit or loan. Because now you know your credit score you know what to expect from the bank in terms of borrowing. If your credit score is above average, our congratulations!, you will receive your credit or loan.
Do you know that the info about your credit score can assist you a lot in taking care of lots of problems with credit? And also do you know that you can get a free credit score?