Your financial standing is important for you to lead a comfortable life with your family. You plan your life on its basis, starting from regular matters like planning your household monthly budget, family vacations, etc. to important decisions like when and which car to buy, when to buy a house, etc. Request your free credit report online to check your financial standing. Your financial standing is basically a three-digit number assigned in your credit report by credit bureaus to determine how much you are worth. The higher your score, the better are your chances of living the life the way you want.
So how can a mere number, rule you?
In times of need, credit is what you can rely on to bail you out of unpleasant circumstances. When you apply for a new credit card or loan, the bank checks your report to decide whether to accept or deny your application. This report contains your credit score and related details of your financial standing. If accepted, the bank will refer to your this report again to decide the credit limit fit for you. If denied, it’s safe to assume that your score is low and needs to be improved 메이저사이트.
Bad credit can force you to compromise on your lifestyle. Your cell phone company might deny you the latest handset model for free because of your bad score. With a good one, you could have signed a contract with them to get your expensive handset for free.
Bad credit also affects the possibility of a better future. So when you apply for a new job, check your credit report first. Your prospective employer will also check your report to note your sense of responsibility. If you have average or below-average score, chances are you might not even get an interview.
So what is a credit report?
It details the way you handle your money by listing your income, bill payments, etc. If you efficiently pay your bills on time and have a steady income, you are more likely to have a high score.
You have 3 credit scores from each of the nation’s credit bureaus – TransUnion, Experian and Equifax. And you need to keep track of all the 3 scores to:
– Make sure there are no mistakes or missing information.
– Detect changes to your credit score due to late payments, non-payments, or even identity theft.
– Be able to negotiate better while applying for a new credit line, like cards, loans, etc.
– Monitor who’s been checking your information with or without your consent.
By law, you can request a free credit report from all the bureaus at least once a year. However, your numerical credit score might not be included in these reports. You can buy reports from several companies online. Before buying, make sure checking your score through that particular company will not hurt your score.
How Do I Check My Credit Score and Credit Report?