Credit Report Review
Credit
reporting plays a significant role in many aspects of our lives so
knowing exactly what’s contained in each of your credit reports is
critical. Lending, banking, employment screening, insurance, and
housing all use credit checks as a measuring stick to determine
trustworthiness. Good credit is a valuable asset that can save you
money, give you a greater array of financial options, and more favorable
financial offers. Even if you already have a good score, there's always
room for improvement.
The
components of a credit score (FICO, Vantage Score, Beacon, Empirica...)
and the information contained in credit reports are often hard to
decipher and understand. Your credit score can affect your ability to
obtain a business or student loan, buy a home, rent an apartment, buy a
car, receive favorable insurance rates, or even getting a job. Further,
checking your credit report regularly is a crucial step in protecting
yourself from identity fraud or inaccurate reporting.
A
recent survey of American credit habits reveals six in ten (63%) don't
know their credit score, 47% never check their credit reports, 67
percent say they have never checked their credit reports for free, and
16 percent check their credit reports less often than once a year. Even
if you’re cautious with credit usage and pay your bills on time, it
still comes down to the fact that you have three credit reports, each
with an associated score. Information in each of your reports can vary
and a lender may use any one or more of those reports to make its
decision.
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We can help you obtain a free (see link to the right)
or low-cost copy of your credit reports and provide you with a free and
confidential credit report review session with a Certified Credit
Counselor to ensure you have the necessary tools to improve, maintain
and protect your credit standing.
- Meet one-on-one with a Certified Credit Counselor
- Learn what information appears on your credit reports
- Identify and learn how to correct any reporting errors
- Identify the factors and reasons your credit scores is based upon
- Develop an action plan to to raise your credit scores and overall creditworthiness
- Determine common risk factors that influence credit scoring and lending decisions
- Learn how to protect yourself against identity theft and fraud
- Learn the importance of making on-time monthly payments
- Proves your overall creditworthiness
- Save money on interest -- 1% extra interest on a 30 year mortgage of $100,000 will cost an extra $26,902!
- Receive better benefits from competitive marketing
- Emergencies may occur and a good credit standing allows you quick and affordable lines of credit
- Lower interest rates on automobile purchases
- Higher paying jobs since employers frequently check a potential employee's personal credit report
- Receive insurance approval and preferred rates
- Freely obtain utilities so no up-front deposit is required
- Easily rent a car since all rental car companies require a credit card deposit
- Reserve a hotel room
- Conveniently pay for unexpected repairs without the danger of carrying large amounts of cash
- Conveniently purchase airline/train tickets
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