Credit rating

know about credit rating, credit score, credit report and equifax credit report.

Wednesday, January 10, 2007

3 Totally Free Ways to Get Your Credit Report

Yes, you can now get your credit report without paying a dime. And unlike before, now it is truly free. No longer make you have got to subscribe up for a "free" credit report by sign language up for "credit monitoring protection service" for a low annual fee of $79 a year! The years of dodging the bothersome charges and service fees for a free credit report are over.

Under the 2003 Carnival and Accurate Credit Transactions Act, you have got the right to a free transcript of your credit report within a 12 calendar month time period from the large three credit report bureaus (Experian, Equifax and TransUnion). The end of this new authorities enactment is to guarantee that Americans have got the right to remain informed about what these three credit reporting bureaus state about you without having to pay for it. Since identity theft, fraud and mistakes are quite common today, why should you have got got to pay for a transcript of a report to struggle back against these problems?

Here are the 3 ways to get your free annual credit report:

1) The three credit reporting agencies have created a website to bespeak your annual credit report. Go to www.annualcreditreport.com to bespeak your free report.

2) Call (877) 322-8228 to bespeak your free credit report.

3) Complete a word form from the Federal Soldier Trade Comission, http://www.ftc.gov/bcp/conline/include/requestformfinal.pdf and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, gallium 30348-5281.

If you travel directly to the three agencies or usage any other type of service you may stop up having to pay or mark up for the subscription services I mentioned above! Brand certain you utilize 1 of the 3 methods I have got listed to get your annual free credit report.

You can get the reports from all 3 agencies at once or stagger the reports from each one during the course of study of 1 year. The advantage of staggering the reports that you have is to maintain path of how any major changes in your financial image affect what is on your credit report. For example, if you be after on getting a second mortgage over the approaching year, or applying for student loans, ect. it might be wise to get a report before and after these major events!

This new Act makes not supplant the other methods you can take advantage of to have a free credit report. If you are applying for unemployment or been denied a loan, or need a credit report in order to get a job, you still have got the right to obtain a free credit report.

Take advantage of this new authorities ordinance and do certain all of the information listed by all three credit reporting agencies are correct. Any mistakes or skips can reduce your credit score and end up costing you a batch of money when you apply for any type of credit.

Sunday, January 07, 2007

Free Credit Reports Are Not Always Free

According to an amendment to the Carnival Credit Reporting Act, you can obtain a free credit report on yourself for free 1 clip every year. However, just like with any new law or service, there are people out there looking to take advantage of you. So be aware of what you see when looking for your credit report; not every service claiming to offer you a free credit report is actually offering one.
To get your free credit report, you really only need to travel to the annual credit report website. If you travel to the Federal Soldier Trade Commission’s website, you will happen all the information you really need to get your free credit report. You only need your name, societal security number, day of the month of birth, and computer address to get the free report. As easy as it is, there are still many companies out there who desire to get the business of people like you who are seeking their free credit report.
One manner these companies take advantage of people is by establishing a web computer address that is very similar to the legitimate authorities websites for obtaining a free credit report. They will crop your societal security number, address, and other personal information under the claim that you will get a free credit report. Remember, you can get one by going through the Federal Soldier Trade Commission. Be aware that you should never have got to provide a credit card number or telephone number to obtain your free credit report. Your address, name, societal security number, and day of the month of birth are all you need.
You should never react to an electronic mail to get your free credit report. Remember that that getting the report is a right you have. Some companies, in an attempt to get your personal information, will direct Spam electronic mails advertisement access to your free credit report. These companies are usually just Phishing for your personal information. Never react to electronic mails to get your credit report. Instead, the information is easy to obtain through the proper authorities channels that are readily available to you.
United States Congress have given you the right to obtain a free credit report on yourself once every year. The authorities have got given you access to the free report through the Federal Soldier Trade Committee website so that you make not have to worry. You will get emails, see on line advertising, and even get dad up advertisements that publicize free credit reports. Keep in mind, though, that many of these companies are not interested in getting you your report as much as they are getting a clasp of your information. There is no ground to utilize these companies, legitimate or not, to obtain your free credit report when you can make it through the Federal Soldier Trade Commission. Your information is critical to your financial well being and in the incorrect custody could make a batch of damage to your credit. In order to avoid these pitfalls, the best thing to make to get your free credit report is to travel through the government.

Wednesday, January 03, 2007

What Is On Your Equifax Credit Report?

Equifax is one of the three major credit reporting agencies, along with Experian and Tans Union. All three get information from creditors voluntarily. You may have got heard of the agencies, and recognize the of import of your credit report. If you do, then you may be interested in retaining a transcript of your ain credit report from Equifax. Your Equifax credit report should be of great interest to you since the table of contents can have got such as a profound influence on your ability to do certain purchases. Therefore, it is of import to understand what you are going to see on your report and what it means. The table of contents of your Equifax credit report can basically be broken down into five parts: your personal information, inquiries, your credit history, public record information, and your overall credit score.
The first portion of your Equifax credit report is your personal profile. Your personal information is kept in this portion. You name, aliases, partners name, current and former addresses, birth date, employment history, and Sociable Security number. When looking at your Equifax credit report, do certain the information is accurate. You can do rectifications to the information by talking with Equifax.
Next, you will happen the enquiries section. Here, you can see everyone over the last two old age that have requested your credit report. You will happen two types of enquiry on your Equifax credit report: hard and soft. A hard enquiry is one made by a company and initiated by you, like when you apply for a mortgage or credit card. A soft enquiry makes not demo to creditors unless you bespeak it and is made by existing creditors who are monitoring your credit.
One-Third on your Equifax credit report is your credit history and public records. Your history will have got a elaborate listing of your credit debts. It will include how you have got done in terms of paying, all late payments, and information about how the account have been paid to date. You enters will include bankruptcies, liens, and over owed kid support type information. Any public records are negative and will lower your overall score. They usually will remain on your Equifax credit report for six to 10 years.
Last you will happen your credit score. The credit score is a evaluation that shows how great of a credit hazard you are and what the opportunities are that you may default on on a loan. Most lenders will utilize the credit score as factor in yttrium our loan application. The number of the score is between 300 and 850. The higher the score on your Equifax credit report, the less risky you will be considered by creditors. If the score is lower, you will be seen as a higher hazard and while you still may get loans, you will likely be headed toward higher rates of interest.
Your Equifax credit report have a large influence on your ability to do purchases on credit. Many state and federal laws allow you to have a transcript of your Equifax credit report either for free or at a low cost. Take the clip to get a transcript of your Equifax credit report, as well as 1s from the other companies. That manner you can be certain that all of the information is right and have got an thought of how risky you are so that there are no surprises when you got apply for any loans.

Tuesday, January 02, 2007

Stop Struggling Because Of Poor Credit And Improve Credit Rating Now

Did you apply for a personal loan only to be turned down by a bank or lending institution? Like most people there is always a need to borrow money to buy a car or to renovate a home or even to get a student loan. There are many reasons why people need a loan and lenders turn people down from a loan application based on ones credit rating and credit score. Fortunately there is a way to resolve this situation by obtaining a credit report and checking to see if there are any inaccuracies or items that should not be in the credit report. By cleaning ones credit report it begins the process towards obtaining credit and even better interest rates on loans.

With the costs of living on the rise and the limit that one has on earnings it is easy to understand why borrowing becomes necessary for a lot of people. However, care must be taken to ensure that when money is borrowed it can be paid back to the lender.

There are times when money is borrowed and the borrower has difficulty in meeting the loan requirements and payment schedule as was outlined at the time of obtaining the loan. If there is a good reason for non-payment of loan and if this reason is brought to the attention of a lender in a timely fashion, it is very likely that the lender will be accommodating and suggest a revised payment arrangement.

The problem arises when there is default in loan payments and when the loan is not repaid as agreed upon by borrower and lender. This then gets into the credit reports and becomes part of ones credit history and it becomes a problem for future borrowings.

However, it must be noted that often times there are errors and inaccuracies in ones credit report. These credit report errors can and do affect ones credit rating and places a person as a bad or poor credit candidate. It is therefore very important that the inaccuracies be dealt with and a clean credit report be in place after all the discrepancies in the credit report have been removed.

People with a bad credit report that have a need to clean up their credit have the law on their side which allows them to request a reinvestigation of information in a credit file and dispute it as inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost. As per the Fair Credit Reporting Act people are entitled to a free copy of their credit report if denied credit, insurance or employment within the last 60 days. If an application for credit, insurance, or employment is denied because of information supplied by a credit bureau, the company you applied to must provide you with that credit bureau's name, address, and telephone number.

You can dispute mistakes or outdated items in your credit report for free. Ask the credit reporting agency for a dispute form or submit your dispute in writing, along with any supporting documentation. Do not send them original documents.

Clearly identify each item in your report that you dispute, explain why you dispute the information, and request a reinvestigation. If the new investigation reveals an error, you may ask that a corrected version of the report be sent to anyone who received your report within the past six months. Job applicants can have corrected reports sent to anyone who received a report for employment purposes during the past two years.

When the reinvestigation is complete, the credit bureau must give you the written results and a free copy of your credit report if the dispute results in a change. If an item is changed or removed, the credit bureau cannot put the disputed information back in your file unless the information provider verifies its accuracy and completeness, and the credit bureau gives you a written notice that includes the name, address, and phone number of the provider.

You should tell the creditor or other information provider in writing that you dispute an item. Many providers specify an address for disputes. If the provider then reports the item to any credit bureau, it must include a notice of your dispute. In addition, if you are correct-that is, if the information is inaccurate-the information provider may not use it again.

If the reinvestigation does not resolve your dispute, have the credit bureau include your version of the dispute in your file and in future reports. Remember, there is no charge for a reinvestigation of your credit report.

Reporting Negative Credit Information

Accurate negative information generally can be reported for seven years, but there are exceptions:

• Bankruptcy information can be reported for 10 years;

• Information reported because of an application for a job with a salary of more than $75,000 has no time limitation;

• Information reported because of an application for more than $150,000 worth of credit or life insurance has no time limitation;

• Information concerning a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer; and

• Default information concerning U.S. Government insured or guaranteed student loans can be reported for seven years after certain guarantor actions.

It pays to view your credit report, check your credit score and to rectify any inaccuracies, which in turn will give you better borrowing power. Visit the following website now for more Info.
http://www.zen-design.org/credit-reports.htm