Check Your Credit

You Should Check Your Credit Report
to correct errors and to avoid thieves from stealing your identity. You can get your credit report FREE without obligations, or subscribe to credit monitoring and ID theft protection services.

 

Page Topics:

  1. about your credit score
  2. what's inside your credit report
  3. 5 reasons to check your report regularly
  4. FREE credit report
  5. credit reporting - credit monitoring services
  6. ID theft protection
  7. credit repair services

Click a topic heading to toggle the display of its contents | hide all | show all

About Your Credit Score

The FICO score is a mathematical calculation the measures your probability to repay a loan

Measurements are base upon a number of factors that include:

  • your current outstanding debt
  • places and the number of times you have applied for credit
  • the kind of credit you have taken out in the past
  • late payments in 30, 60, and 90 day increments
  • over extension of your credit lines
  • liens
  • garnishments
  • bankruptcy

 

Lenders often use the FICO score when reviewing an applicant's request for credit

an applicant with a high FICO score will likely receive instant approval with better than normal rates and terms — which means lower cost when you borrow money

view more information about the FICO credit score:
click here

 

FICO Scores: 720 and up

  • Scores 720 and up are considered excellent.
  • Most lenders will categorized this group as A rating.
  • Scores within this group will have access to the best interest rates and terms.
  • About 60% of the U.S. population falls within this credit range

 

FICO Scores: 640 to 719

  • Scores 640 to 719 are considered good credit.
  • Most lenders will categorized this group as B rating.
  • Scores within this group will have access to good interest rates, but may not qualify for the very best interest rates and terms.
  • About 27% of the U.S. population falls within this credit range.

 

FICO Scores: 500 to 639

  • Scores 500 to 639 are considered risky credit.
  • Most lenders will categorized this group as C rating.
  • Scores within this group may still qualify for a loan, but may have to pay at least two percentage points or more higher interest rates than the group in the excellent category.
  • About 12% of the U.S. population falls within this credit range.

 

FICO Scores: 499 and less

  • Scores 499 and below are considered very risky credit.
  • Most lenders will categorized this group as D rating — which means the applicant may have foreclosure, liens, and credit judgments.
  • Scores within this group may still be eligible for a loan, but may have to pay at the maximized rates determined by State and Federal regulations.
  • About 1% of the U.S. population falls within this credit range.

top of page

What's Inside Your Credit Report

Your credit report will maintain the following information:

  • Your current outstanding debt
  • Places and the number of times you have applied for credit
  • The kind of credit you have taken out in the past
  • Late payments in 30, 60, and 90 day increments
  • Over extension of your credit lines
  • Liens
  • Garnishments
  • Bankruptcy

    Credit bureaus report negative information for seven years and bankruptcy information for ten

 

Who Has Access

By signed authorization through an application or other contractual agreement, the following parties may gain access to your report:

  • Banks, credit unions, finance companies, other lenders
  • Retailers, department stores, credit card companies.
  • Landlords, utility companies, phone companies.
  • Hospitals, doctors, dentists, insurance companies.
  • Car dealers, mortgagers.
  • Investigators, lawyers, courts.
  • Any party who can offer just cause and/or has access as a member of a credit reporting agency.

 

Why Check Your Report

To avoid paying higher interest rates on your car and home mortgage if your credit report shows some questionable activity.

  • Did you also know that you may be charged higher premiums on insurance if you have questionable credit?
  • And you also might be surprised that many employers run credit checks on potential job applicants and/or for promotions.
  • Your goal is to ensure that your credit report reflects accurately your credit and financial management skills.

top of page

5 Reasons to Check Your Report Regularly

1: Check for Errors and Inaccuracies

About 1-in-4 credit reports contain errors that can affect a credit decision. These errors may include human input error, incorrect information reported about your account, or addition of some other account information that has a similar name or SSN number to yours.

You should check you report at least annually and prior to submitting a home mortgage or other application.

 

2: Tracking Payments

The typical household will during one month make 1 mortgage payment, 4-5 credit card payments, 1-2 student loan payments, 1-2 auto loan payments, 4-5 utility payments, and the list goes on.

Multiply this number of payments by 12 and you can imagine the probability that 1 or more payments were recorded incorrectly by your creditor.

You should check your credit report to make sure that your payments has been properly recorded.

 

3: Identity Theft

This is probably the main reason why you should check your report regularly. Identity theft occurs when someone assumes your name and social security number to open credit accounts, divert card statements to another address, and drive up debts.

Identity theft can destroy your credit and trap you into a complicated process to clear your good name and background.

Checking your credit report regularly can help prevent identity theft. It shows credit activity being made in your name. You can monitor over time whether a particular inquiry or credit account was open without your authorization.

 

4: Inquiries

Every time you make a request for credit or enter into some contractual service, your lender or service provider may check your credit, which places an inquiry on your credit report. Multiple inquiries over a short period of time can lower your credit rating.

Your credit report will show the inquiries made to your report. It is important to know who has made an inquiry, whether such inquiry was authorized by you, and most importantly, whether any of the inquiries are related to Identity Theft.

 

5: Credit Fraud — Unauthorized Charges

A credit report will show the credit accounts that are still open but with limited or zero activity.

Question:
if someone confiscated your credit account, how would you note any activity to the account if the creditor has on their records your previous address? Reviewing your credit report allows you to catch new activity on accounts that may be fraudulent.

top of page

FREE Credit Report

 

FREE Annual report

request your FREE annual credit report

available in all fifty states

This central site allows you to request a free credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.

No obligation or registration required

top of page

Credit Reporting - Monitoring Services

 

experian credit

Description:
Experian's expertise in providing easy-to-read credit reports, scores, analyses and informative, unbiased content. Select from 3 products:

Get Your Credit Report and Score!
See where your credit stands by viewing the same type of information lenders and creditors see!

Get all 3 Credit Reports plus 3 Scores
which includes an account summary, detailed account histories, inquiry information, public records and creditor contact information. Analysis information from Experian, Transunion & Equifax.

3-Bureau Credit Monitoring ... FREE 30-day trial,
have your credit report watched for errors and any comments that may lower your credit rating.

 

equifax

Description:
The Equifax 3-in-1 Credit Report and Score Watch help consumers make informed decisions when making purchases, securing loans, paying for college educations, and managing their personal finances.

Get an Equifax 3-in-1 Credit Report Now!

Get Equifax Credit Watch Gold 3-in-1 Now!

 

privacy matters

Description:
access to your Credit Report and Credit Score . As one of the most popular consumer protection programs in the nation, Privacy Matters, comes with powerful credit management and monitoring tools - making it easy for you to keep on top of their personal credit information.

3-in-1 Credit Report with trial! Click here!

top of page

ID Theft Protection

 

identity theft protection

Description:
Locking your Identity takes time, attention to detail and deep knowledge of the ways thieves penetrate the lives of consumers, how banks issue credit as well as the laws, procedures and regulations which govern how your personal information is released, sold, shared and compromised.

Prevent your Identity from being used and a company that stands behind you to the tune of $1,000,000 should anything ever happen.

LifeLock Identity Theft Prevention - Save 10%

top of page

Credit Repair Services

 

lexington law

Description:
Lexington Law is the largest and most trusted credit report repair firm in America. They offer exceptional service at a very affordable price. In over 15 years of practice, Lexington Law has helped more than 300,000 clients clean up their credit reports.

Lexington Law - Credit Report Repair

top of page

Calculate Your Debt Ratio

The debt-to-income ratio is calculated by: dividing your fixed monthly debt expenses by your gross monthly income.

Total Debts  
Monthly Mortgage or Rent (including escrow):
Monthly Auto or Other Installment Loan Payments:
Minimum Monthly Credit Card Payments:
Minimum Credit Line Payments (home equity):
Monthly Real Estate Non-Income Loan Payments:
Monthly Alimony and Child Support Payments:
Monthly Tax and Legal Assessments:
Monthly Other Payments:
Total Income  
Monthly Gross Salary or Pay:
Annual Bonus:
Monthly Alimony / Child Support:
Other Monthly Income:
*
Monthly Debt Payments:
Monthly Gross Income:
   
Debt-to-Income Ratio (should be around 36%): %

Debt Ratio Barometer:

  • 36% or less:
    debt level within acceptable range for most people.

  • 37%-42%:
    debt level a little high, need to take corrective action to bring debt level down. You may consider paying off or consolidating some of your debt.

  • 43%-50%:
    danger level, need to take immediate action before you lose control of your financial situation.

  • 50% or more:
    excessive debt loan, may need to seek credit counseling services
* Calculations are based upon the assumptions you entered. Please note that rounding errors can make a small difference in calculations.
 
Get Your Home Listed ONLINE for Millions to see!

Save Money and Sell Your Home Faster!

  • RealtyTrac is one of the most-visited real estate websites with over 3 million unique visitors each month

  • Potential buyers can view all your property information for FREE

  • Send e-mails to interested buyers, set open houses and update your listing at any time - all through your FSBO Selling Center


Home "Fixing Up" Ideas
for Outside Garden
decks-patios
landscaping-design
garden maintenance
fountains-pools-ponds
building structures
outside lighting
and more ideas
 
links to our home remodeling center at: www.LetsRenovate.com