Why Should I Care about My Credit Report?
A Credit Article Contributed by Kris Griebe
In the modern world, a credit score, as well as a credit report, is used to measure the value and responsibility of anyone seeking to borrow money. It doesn't matter if you are going to the local bank to borrow a small sum or a large sum, they WILL look at your credit report. So do yourself a favor, take a look at it yourself. If everyone else is looking at it, why shouldn't you?
But Obtaining My Credit Report is Such a Hassle!
In some cases, this is true. Obtaining your credit report can take several weeks, can involve phone calls, and can even cost you money. The real question is, "Is getting my credit report worth it? "
The answer to this, a resounding "YES! ". Credit reports are valuable for any number of reasons. You might think to yourself, "Well, I know my credit is bad, why do I need some dumb number telling me what I already know? ". Well, the truth is, you don't know. Not until you see your credit report! Many consumers these days have the same thoughts, thinking they have bad credit because they were turned down for a loan or credit card.
Many others sit and ponder why their credit is poor, rather than finding out for themselves. Obtaining your credit report puts the control of your credit back into YOUR HANDS! Don't let Joe Businessman control your life, you have to do it for yourself.
What is a Credit Report?
A credit report is a sheet of paper (or sometimes on online web page) that lists all transactions taking place involving you and your credit. Did you fail to pay last month's credit card bill on time? That is on there. Did you pay an extra $50.00 on last months credit card bill? That is on there as well. Credit reports contain positive and negative factors that affect your credit.
A credit report can come from one of the three major credit reporting bureaus. Often, you can obtain it from an independent website, for a small sign-up fee. From there, they will either mail you a copy of your credit report, or show you a copy online. Another way to get a copy of your credit report is to ask for one when being turned down for a loan or credit card. If you apply for one of these, and are turned down because of "poor credit", you have a right to request a copy of whatever they looked at when making this decision. Why not take advantage of your rights? !?
Credit report scores have a range, for example, a low score could be 200, and a very high score could be 800. And improving your credit has never been as easy as it is today. Just try doing a search online for "credit repair". It will show you thousands of places that can help you increase your credit score!
Who Looks at My Credit Report?
Simple. EVERYONE! Remember last week when you went down to the car dealership? They looked at your credit. Or how about a year ago when you rented your new apartment, or bought that cute house on the corner? Whoever you financed through looked at your credit.
