Check Three Credit Scores
Why should anyone be concerned with their credit score? A credit score is a snapshot, if you will, of how you have taken care of your personal credit history, and a future indication of how experiences believe that you will take care of your future debts. Virtually no one gets a car loan, a mortgage or a credit card without the lender checking the credit score of the individual. Why check three credit scores? Here are some reasons:
- Not every notation will appear on each one of the three main bureaus
- Something may be noted that will preclude the individual from obtaining credit.
- Your score will be a bit different on each site.
Check the report
At least once per year you can obtain a free credit report from each one of the three major credit reporting bureaus. These big three are the ones where most of our information is contained
- How much we owe on every account in our name
- How current the payments are for each account
- How many times we have been late on a payment.
- Various other notations
The main three credit bureaus are Transunion, Experian and Equifax. Most individuals may not know about these credit bureau sites or know how to check three credit scores. There are some companies that will check your report for you; however, there will be a fee higher than what it would cost you to do this yourself. In addition, some of these sites are not reliable or reputable sites. Consider this very carefully if you are choosing to law down your hard earned money to another entity to review your report. However, if you do check three credit scores and want to do some repairs to your credit, you may want to enter into a credit counseling program.
These programs will monitor your report for you and make suggestions on how to get your credit score to go higher. There are certain things you can do that will jump up your score and other things that have little impact. Major credit card defaults, judgments and tax liens will take their toll on your credit score. Enter into any agreements with an outside company very carefully. Do not get burned with a company that promises you something that seems too good to be true.
Make a plan
Make a concrete plan when you set out to repair any credit score that is too low to get you what you want in life. You will need to contact any creditors that may have turned over negative reports to the bureaus. This is critical, as some may settle for lesser amounts of money with you and even remove the negative report all together from your credit file after payment has been received. Take notes of all conversations, with dates, times and the name of the company representative that you have spoken with on the phone or by mail. Companies want to be paid even years after the date of the original debt. Most of them will work with you to get at least something out of the deal. Figure out how much you can pay on the smallest debt work on getting that on paid off and then begin to tackle the rest of them. Some people choose to get a second job so that they can pay off their debts earlier. Do whatever you can to raise the credit score so that you can take out the credit you will need in life at the best rates. Check all three credit scores to see what all three companies are reporting about you and your debts.