Credit Reports
 | You can now see your actual credit score, a
number from 300 to 850, that tells you whether you're a good risk. |
| To improve your credit score quickly, pay
your bills on time and pay down the total amount you owe. |
| There are three major credit bureaus who
issue credit reports to lenders - Equifax, Experian, and TransUnion - and
they don't share information. So even if you correct an error on one credit
report, you will have to do the same on the other two. |
| You have the right under federal law to
challenge items on your credit report. The credit bureau then has 30 days to
decide whether that item should be removed. |
| If a credit bureau refuses to correct a
mistake, you can sue them. |
| Get copies of all three credit reports six
months before you apply for a home loan. An error on your credit report can
take months to clear up. If your time is ticking away on a home closing and
you can't get approved for a loan, you're going to lose the house. |
| Due to a new law, consumers can find out what their formerly secret credit
score is. The score is what determines the type of loan product and terms
consumers receive.
• eLoan; free credit
score reports
• Equifax; Credit
score reports for $12.95
• MyFICO; Credit
score reports for $12.95
• Experian; Credit
score reports coming soon online
Clark Howard suggests that you request a copy of your credit report and
credit score in advance of any major purchase. Buying a home? Get your
report and score at least four to six months in advance; one month for new
or used car purchases. This advance time will permit you to clean up errors
before its pulled again by loan companies. |
| Credit scores have become huge these days because the number, which was
always kept under wraps, is now public. And, people know the number is used
for so many things, including the loan rate you are quoted, the amount you
can borrow and even your insurance coverage. Well, myfico.com
now has an interactive tool that tells you what you need to do if your score
is lower than you’d like it to be. You can only use the tool if you sign
up for myfico’s credit report and score, which costs $12.95. So, if your
score is good, in the 700s or 800s, don’t need to worry about signing up.
But if you’d like to find out how to improve your score, it’s worth it.
These days even auto and home insurance companies are basing their decisions
about you on your credit score. So, keep this in mind. |
| FTC - ask for "Fair
Debt Collection Practices Act" |
| FairIsaac - credit
report scoring
|
Credit Services
Brought to you by:  |
| Online
Credit Report
Receive your credit report online in less than 30 seconds.
| 3
Bureau Online Report
Instantly see your credit information from all 3 credit bureaus! The best
option for mortgage shopping.
| Credit
Score and Analysis
Get your credit score added to any report, a numerical representation of
your credit worthiness. Also includes personalized tips and analysis to
improve your credit score.
| Credit
Check Monitoring Service
Try this Credit Check Monitoring Service free for 30 days and receive a free
copy of your credit report. |
| | |
Credit Companies
Some of the most prominent online credit rating companies
that propertySites has examined are listed as follows:
| ConsumerInfo.com
There are three major credit bureaus potentially recording and reporting
information about you (Equifax, Experian, and Trans Union). ConsumerInfo.com
has exclusive relationships with each bureau to provide you with one simple,
easy to read report.
| Equifax
The only service with your FICO® score - the score used by the
majority of lenders to qualify you for loans.
| Experian
A global provider of credit reports and related services for businesses and
consumers.
| FreeCreditReport.com
Get a free copy of your credit report online.
| MoniTrust.com
Credit is one of the most important aspects of your financial life.
MoniTrust.com provides a one-stop resource for online credit reports and
credit monitoring.
| Trans Union
Personal Solutions providing consumers with tools, tips and other useful
information.
| TrueCredit
Your credit report is constantly changing - stay informed & guard
against identity fraud. |
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