Check Your Credit Report

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Real Estate

Check Your Credit Report

Credit card companies and lenders rely on credit scores, which determine someone’s chances to borrow money — and how favorable the terms will be.

Check your own score yearly by ordering reports from the three major credit scoring companies: Equifax (www.equifax.com), Experian (www.experian.com), and TransUnion (www.tuc.com).

You can stay on top of your score by ordering from just one every four months. Exp Jan-Equifax, April-Experian, Aug-TransUnion. 

Notify the credit bureau of inaccuracies. Close credit accounts not in use. Keep your oldest accounts open and active. Request that late payments older than seven years be removed. Verify and update accounts and account numbers. Verify address and Social Security number.

How to Improve Your Score: Pay your bills on time. Reduce outstanding debt. Build up your savings. Don’t fall for illegal schemes that help you create a new credit identity.

 

If you have any questions contact your local lender/bank/credit union. My husband and I attended Financial Peace at our church and boy, did we learn a ton about money!

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