Get To Know Your Credit, Before You Try To Improve It January 6, 2015
If improving your credit is one of your new year’s resolutions, then you need to start now. But where do you start? One of the first steps you should take when trying to improve your credit is to take a look at your credit report. How do you get your credit report? Equifax, TransUnion and Experian are required to give you a free credit report once every 12 months, because of the Fair Credit Reporting Act. You can get these reports through AnnualCreditReport.com, phone, or mail. In addition to reviewing your credit reports, you should also view your credit score. Unfortunately, credit scores are not given for free and have to be paid for. The score provided by these companies is called your vantage score. Like your FICO score. It is calculated based on your credit report and will be anywhere between 300 and 850. There are other options that offer free credit scores, but they often come with unwanted services that you end up being charged for. Not all free credit score offers come with a catch. Websites like CreditKarma.com offer free credit scores. On CreditKarma.com you can get you credit score from both Equifax and TransUnion. Not only does the site give you a credit score, but you can also see how much you are paying on certain loans and ways that you can actually save money. Creditsesame.com and Credit.com both offer free credit scores from Experian. There are many ways to get your credit score. While there are many sources for credit scores, there are also many variations in the actual credit score. Credit score from the major credit bureaus are not guaranteed to be the same. Although they are different, there should not be any major differences between them. When improving your credit it is important to know what needs to be done. Viewing your credit report can help you to identify why you credit score is low. It can also help you detect any fraud, or any information that has been wrongfully added under your name. As you improve your credit you should see your score rise. A good credit score can open many doors to you. Many institutions view your credit before to determine how reliable you are. Keep track of your credit, and use tools like the credit card payment calculator to stay on track. Having good credit is the key to owning the home or car you want, and sometimes even getting the job that you want. you should get in with financial literacy experts on these issues also so that everything can be cleared. Read more : http://www.finlit.com/credit-cards
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