Credit Report ? Check Yours Regularly - and for Free
In the twenty-first century, there are few documents that have a greater impact on the lives of Americans then their credit report. Credit rating determines one's ability to buy a home, a car, or to obtain a credit card or a job. Since these things are important, it is equally important that the information be accurate. The only way to be sure of that is to check the report regularly. Prior to last fall, there were two ways to obtain a copy of your credit report: to pay for one, or to obtain one for free after being denied credit. Thanks to the Fair Credit Reporting Act passed last year, Americans can now obtain a free copy of their credit report from each of the three credit reporting agencies once a year. Due to anticipated heavy response to the offer of free credit reports, the program has been rolled out in stages. People living in the West and Midwest are already eligible to apply for a copy of their report at www.annualcreditreport.com. As of June 1, 2005, those living in the Southeast are now eligible, and on September 1, 2005, those living in the Northeast will be eligible. All that is required to receive a copy of your credit report is to answer a few simple questions. Since it only takes a few minutes to do, there is really no reason to put off checking your credit report, and you may benefit tremendously by doing so. The credit score is a single, three digit number that represents an individual's credit worthiness, and that score is obtained through a complex formula that takes into consideration a person's borrowing and spending habits and payment history. A high score makes someone more eligible for loans and credit, while a lower score may indicate that a person is a risk to repay. While the information contained on a credit report is generally accurate, incorrect information sometimes shows up on credit reports, and incorrect information could result in someone who being denied a loan for which they might otherwise be qualified. Furthermore, a credit report check is the best way to determine if you have been the victim of identity theft, an increasingly popular crime that often goes unnoticed for a year or more. If your identity is stolen, your credit rating can be ruined and you can be burdened with thousands of dollars in debt. The new bankruptcy law, which goes into effect in October 2005, draws no distinctions between debt incurred by an individual and debt incurred through identity theft. This alone should be reason enough to check your credit report regularly. Since the law now allows individuals to obtain one free report per agency per year, anyone who wants to keep a close eye on their credit report can obtain a free report as often as every four months. Since the credit report affects your life in so many important ways, checking it regularly should become a habit. ©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements
Related News
|
 |
|
|
RELATED ARTICLES
Commercial Collections And Credit Granting
It is estimated that billions of dollars in delinquent commercial credit is currently being carried on the books of both American and international businesses. This figure changes as our economy grows or contracts. Increased competition, diversification of product lines seem to indicate that these figures will continue to move upward. Regardless of the state of either the national or international economy, the necessity to grant credit and to collect commercial receivables using professional methods remains vital to all businesses.
10 Ways of Reducing the Risk of Identity Theft
1- Check your credit report regularly
Understanding Credit Card Penalties
Because most of us have one or two credit cards and we use them every day, understanding credit card penalties and fees is a significant issue since one time or another we have paid a penalty for some reason. Every user of a credit card must first understand that every charge on the credit card represent a loan which must be repaid. It's like the loan for buying a house or a car; the same way these loans should be repaid, the credit card debt should also be repaid and even more it should be paid in time and at least the minimum amount or else you'll end up paying more interest fees and penalties than the actual borrowed amount. So, we can say it is important that reading and understanding credit card penalties and fees to be done before you apply for a credit card and start using it. A credit card user should read, before signing, the agreement and especially what is written with small letters because those small written lines sometimes are the most important. The agreement of the credit card usually contains rules on how and when the credit card issuer can apply penalties and fees, but you should also look for the lines where it is clearly stated how and when the payments should be done. You, as the future user of the credit card need to have complete and accurate information in order to be able to take a correct decision.
Credit Report Disaster Through Mistaken Identity
I've got some very important info I want you to think very seriously about. I'm sure by now you've heard of Identity Theft,...heck you may have even been affected by it. I know many of my friends have.
Addressing Bad Credit Card Debt
Spending Habits
Credit Card Rates - Negotiating Rates with Your Credit Card Company
Ok, let's face it, everybody hates high credit card rates, and they drain hard earned money out of your wallet. As a valued consumer, it is apparent that you learn how to negotiate to get the absolute best rate that you possibly can. The good news however is that it doesn't have to be a difficult or time-consuming process. In fact, it can be very easy indeed if you know what you're doing. In this article we will discuss the ins and outs of credit card negotiating to ensure that you get the best possible rate with the least amount of effort.
How To Start A Second SEPERATE Credit File!
Your personal credit file is separated from those with the same or similar names by several factors, including a driver's license number, birth date, or spouse's name. Although these are three important identifying marks, the number one identifying mark on your credit report is your social security number. Since there is no one else in the United States with your number, your file is easily identified. The chances are very small that the social security office in your area will issue a second number just because somewhere down the road you messed up your credit. However, it is impossible that a second personal file would be created.
Bad Credit Loans For Those Who Seek Alternatives for New or Old Car
You can still save money on a Bad Credit Loan by comparing rates, checking out multiple policies, and negotiating with lenders.
Small Business Credit Cards
So what do you look for when applying for a credit card for your small business? One thing is for sure, wasting money isn't an option because it can make or break your business. Things to look for are low interest rates and good customer service.
Dealing With A Collection Agency
Step I - Selecting A Collection Agency
I?ve Heard About FACTA; What Does It mean?
What FACTA means is that if you, as an individual, lose the information on anyone you have ever hired; or, for any business in the United States of America that collects any personal information on people, if the information should be lost due to not destroying the information properly, then two things can happen. First, there are federal fines of up to $2,500.00, and state fines up to $1,000, per employee, per incident. Second, the business is liable for any damages the individual suffers as the result of a breach of information.
Credit Cards - Why Prepay?
With prepaid credit cards, you get the practicality of plastic while choosing exactly how much debt to charge. By taking charge of your personal financing, you determine your own limits, to the penny, and change them any time you need to.
Your Guide On Choosing a Credit Card To Suit You
Reach into your wallet or purse, pull out a card, swipe, and you're done. It is very easy to use a credit card. The problem lies in choosing a card ? and it has nothing to do with the picture on the front! Choosing a credit card that works best for you is vital to your credit rating. If you choose incorrectly, you may find yourself in deep debt trouble. Here is some basic, yet extremely important, information that will help you make the right choice.
Top 7 Factors to Consider While Reviewing Credit Card Offers
Credit cards have migrated from being hip or convenience product into a must have entity for everybody. Shopping Online you need a credit card. Wanna book a weekend rental you need a valid card to pick one. In order to register as a valid seller in many online sites you need a card. Like this the credit cards have evolved from being just convenience items into something you got to have or you will be denied many services. There is a lot of money being made by the credit card industry. Everything you buy has a credit card fee attached to it. If you pay by cash you still paying those fees since the merchants don't offer a discount for cash or check payments. They are willing to pay the 2-3% charge to the credit card companies than give it back to you. If you are not using a credit card as your main payment method and enjoying the convenience it offers you are paying for nothing.
Useful Tips On Avoiding Credit and Charge Card Fraud
Credit and charge card fraud costs cardholders and issuers hundreds of millions of dollars each year. While theft is the most obvious form of fraud, it can occur in other ways. For example, someone may use your card number without your knowledge.
Identity Theft ? Who Would Want Mine?
With all my bills who would possibly want my credit? Let them steal my identity and pay my bills! Unfortunately, that's not the way it works. Many of us mistakenly believe that identity thieves hit only the wealthy. Nothing could be farther from the truth. The average person is often more vulnerable that those we consider wealthy?
How Your Credit Rating Affects You, and How to Check It
You might not know it, but every time you take out any kind of loan or credit or pay something back, it gets counted on your credit rating. Who keeps a record on you will vary according to where you live, but the big three credit reference agencies are Experian, Equifax and Trans Union. They will provide your credit rating to any company that is thinking of lending you money.
Why Your Credit Score is Important
Your credit score can either haunt you or reward you. It all depends on how you handle your credit and payment activities. Your credit score determines what interest rates you will pay and if you are even approved for a loan or a credit card at all. In addition, your credit score can play a factor in renting your next apartment or getting hired from a potential employer.
Do You Know The Top Five Credit Card Mistakes?
When you're dealing with credit cards, you're playing with fire. Unfortunately, there are plenty of people out there who don't realise that, and make all sorts of dangerous mistakes with their credit cards every day.
10 Simple Steps to Manage Your Credit
By far the greatest invention the banks have ever come up with came out in the 20th century. Also the new field of Credit Management was born with the invention of the credit card. It is the most available out of any financial product out there. In fact more than 80% of the U.S. households have at least one credit card. If you want to consider yourself as the "Average" American then you have about 8 credit cards burning a hole in your wallet right now. To make sure that you don't get yourself in any trouble (again) try and follow these 10 Simple Steps for Credit Management.
|
