Credit Report the Good Bad and Ugly?

A Credit Article Contributed by Mistie Cauley

Credit Reports

Your credit report can be full of good bad and ugly stuff. Depending on how you have payed your bills. If you are a slow payer or a late payer your credit report score will be lower than for someone who pays all their bills on time.

Checking Your Credit

Any one can check their credit report online or by sending the credit bureau a letter requesting a copy. All you need is your social security number and your name. Your credit report will be mailed to you. When you get this report look over it carefully. Everyone is human and mistakes can be made.

Repair Your Credit Report

Credit repair can be easier than it sounds. If it is a simple mistake by the credit bureau you can request that it be fixed. If the problem is late payment or slow paying, you can fix this yourself by working hard to pay all late fees. This information will be sent to the credit bureau. In turn your credit report will show payed balances. Repair your credit report and watch your credit score jump up to an A+.

Credit Card Applications

Credit card applications can be confusing. One card wants to give low interest rates for a few months and another credit card want to give you no interest charges for a few months. The problem with this is that after the few month period is over than you may be paying up to 18% or higher interest rates. Credit card companies are out to make money. This is why one should read all the fine print before signing up for any credit card. You could be making your credit report bad and not even know it.

Credit Report Mistakes

When you sign up for a credit card, in the mail you should receive a monthly report on all your credit card usage for the month. Read over this carefully and check each purchase with all your receipts. Doing this simple task can save you trouble in the long run. If something is on the report that you do not understand or are not sure about do not hesitate to call your credit card company at once.

Credit Report Scores

The scores on your credit report are used by banks. The bank you are trying to buy that new car from will look at your credit report very closely. If you have bad credit more than likely that bank will not give you the loan you need to get that new car. Maybe you have decided to expand your family and now you need a bigger home. the same rules will apply to that situation. Bad credit means no credit! So be very careful if you want to make a big purchase such as a home or a car.

If your credit report says bad things about you than you may just be out of luck. So spend wisely and save wisely. Your credit report is the only thing holding you back from that family home we all would like to have someday.