Credit scores are a quick and easy method for a creditor to judge you as a potential customer.
Credit reports are important. They are often the way a creditor, a potential employer, a landlord or an insurance company will judge you.
You may think your credit report is perfect because you have never been late or missed any of your loan payments, but recent studies have shown that perhaps as many as 50% of all credit reports have errors in them.
How many cards do you have? Can you name what’s in your wallet? If the answer is no, you have too many cards.
I’ll bet every time I have suggested that you get copies of your free credit reports you have made a mental note to check yours. Do it now!
Credit scores are a quick and easy method for creditors to judge you as a potential customer.
The three large reporting companies, TransUnion, Equifax, and Experian, will provide you with an annual free copy of your credit report, but you must ask for it.
According to Fair Isaac, on average, today’s consumer has a total of 13 credit obligations on record at a credit bureau, 9 credit cards and 4 installment loans.
It is important to be checking your credit report and credit scores at least annually.
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