free 3 credit report – rating score

Leo asked:


Hello,

I am leasing a car which I will have the option to buy out in March of this year. Since it’s a very good car, I’d definitely like to buy it out – The buy out is something like $8,000. I checked my credit score, and it’s about 762 with Experian and Equifax, and 777 with Transunion. The only thing is that I am currently not working, so I’m sure that “that” would come into play as well. As a small side note, I almost have enough capital to buyout the car outright, but I would like to keep my cash liquid if I can get a good rate.

1. First of all, why do I get different scores for my credit score (signed up for a free trial for one of those free report things that gives you 3 different scores)

2. Also, what kind of interest would I likely be paying here?

Thanks.
Lol wow, at first I was pissed off at how many spam answers I was getting on my question, but now I just laugh. I will report all of you spammers – please stay OFF my question!

Brent

Nataliya Yakushev asked:




Building positive credit as early as possible is the best thing anyone on the brink of independence can do for themselves. Getting a head start makes it easier to obtain a line of credit when you really need it further down the road. If you wait too long to take your first stab at getting a credit card, lenders can deny you for not having enough debt – even worse, that rejection will show up on your credit report and pull down your credit score. While the notion seems backwards, credit card companies don’t want to take a blind risk.

Establishing revolving debt, or debt that fluctuates each month, like a credit card balance, is extremely important to creating positive credit. Lenders want to see that you have a history of spending money and being able to pay off those debts in a timely manner. Getting a low-interest card and using it sparingly is the best route to personal revolving debt.

A short-term approach to financial freedom – like avoiding opportunities to build a solid credit history – can prevent you from getting credit when you really need it, hurting your future financially.

Debit cards aren’t always the answer

Many college students and young people out on their own for the first time rely on debit cards as a credit card substitute, but this practice can actually hurt them in the long run. While using a debit card does force you to stay within your means and helps you save money by avoiding interest fees, you’re not creating a credit history of any kind.

Don’t piggyback on someone else’s credit

Parents often add children or spouses as “authorized users” to their card. This gives the authorized user free rein to use the credit card with none of the responsibility for paying the bill, which lies squarely on the original cardholder’s shoulders. It’s an easy way for students to quickly earn a good credit rating. However, late payments will negatively affect everyone associated with the account, regardless of who’s responsible for paying the bill. A secured card account may be a better choice and help avoid a poor credit history.

Get a secured credit card

People having trouble obtaining a traditional, unsecured credit card might want to build their foundation with a secured card. A secured card requires cardholders to offer collateral upfront to guarantee payment. It allows you to save and gain a line of credit at the same time. If you provide $300 upfront, your secured card will have a $300 spending limit. When you choose to cancel, the company returns that initial deposit to you, minus any outstanding debt.(1)

“Secure Credit Card List: Add Accounts, Build Your Credit Report History, and Improve Your Credit Score (Increase Your Savings Too),” The Credit Scoring Site

Laurie

tarot_princess86 asked:


Alright, I had an account in collections for a really long time. When I started paying it down the collector told me that once it was all paid off that I should send copies of the paid in full letter to the 3 main credit bureaus (transunion, eqifax and experian). However, she did not provide me with the addresses I needed. So I have been circling the internet for hours and hours trying to find these addresses and phone numbers. I found addresses and phone numbers for all three, but these addresses and lines are for obtaining credit reports. My questions are:

Q: If I send my paid in full letters to the main addresses listed, then will someone there know what to do with it, or throw it away because I was supposed to send it to some other (super-secret) address

Q: is it even necessary to send the paid in full letters to the credit bureaus? Because one would think that a collections agency would send that info off in their special way as soon as a debt is settled. ALSO, if it were necessary, you would think that there would either be a designated 1-800 number with PEOPLE to answer questions, a designated PO box address listed somewhere on the internet used for people who need a little more service than a free credit report, or a straight answer about any of these issues somewhere.

Sorry, that last question kind of turned into a rant….

If anyone can help me that would fabulous, and worth 10 points!

Colleen

Bart Newman asked:




Equifax, TransUnion and Experian are nationwide consumer reporting companies required by the Fair Credit Reporting Act or FCRA to provide consumers a copy of their free credit report with score each year. This Act is implemented by the Federal Trade Commission, a consumer protection agency that also promotes privacy and accuracy of information from these three companies.

In general, a credit score is the measure of credit risk computed from a collection of credit reports using a standardized formula. It includes information of your address, how you pay your bills, and whether you have filed for bankruptcy or have been sued or arrested. The scale for credit score ranges from 349 to 849; indicative, for example, that a 640 rating will most likely give you difficulty getting a good loan. This kind of information are sold by consumer reporting companies to insurers, creditors, employers and businesses for evaluation of your credit, employment, insurance and home rental.

So why would you want to have a copy of your credit report? Because it contains information whether you can get a loan and how much you will have to pay; to make sure that it is up-to-date, accurate, and complete before doing a major purchase for car, insurance, house or even to apply for a job. Getting your report on a regular basis makes you manage your accounts well and lets you venture on possible ways to improve or raise your score. This is also one of the many ways to combat identity theft which has been widespread today especially to internet-related transactions.

To get a free credit report with score, you need to provide your name, date of birth, address, and Social Security number. You may also need to indicate previous addresses if you have moved in the last two years. To ensure your security, every nationwide consumer reporting company asks for information that is exclusive to you.

Along with the credit report, it is also advisable to request for credit monitoring to be updated of any strange transaction or activity on your accounts such as change of account information and opening and closing of investments and bank accounts.

Usually a free credit report with score can be accessed immediately although it may even take longer if the nationwide consumer reporting company requires more information to verify your identity.

Under a state law, consumers living in Vermont, Georgia, Colorado, Maine, Massachusetts, New Jersey and Maryland have access to free credit report with score.

Kelly

Tom Tessin asked:




Let’s say that you have a larger car loan, or maybe a credit card that’s charging you around 19%. We all know that it’s going to feel like ages before you can pay it off. Thankfully for balance transfer cards, you’re going to find that you can transfer a balance and not pay any interest at all.

Who are balance transfer cards great for?

These cards are great for those that are looking to transfer larger balances. As long as you can pay that card off within 12 months, you should be safe. The reason I say this is because once the introductory period is up, the interest rate is going to go up like any other card, and most likely, you’re going to be paying 15%+ in interest once again.

What should I look for in a balance transfer card?

The fees - Even if it says 0%, what you’re going to want to do is make sure that there isn’t a transfer fee. Trust me, some banks will want to be sneaky. This fee can be anywhere from 1% to 10%. This is going to be a one time fee. While many banks don’t charge this, you will want to check, just to make sure!

How long? The longer you can get the introductory rate, the better it is going to be for you. You don’t want to sign up for the card and find out that the rate is going to last for 3 months. I would recommend that you find one that lasts for at least 12 month.

Are there penalties? If you don’t pay your bill for example, are they going to cancel your intro rate? What you’re going to look into is if you’re going to have to be on your best payment behavior. You don’t want to miss a payment on accident and find out that your balance transfer is cancelled.

Not only do you want to get a card that helps you with balance transfers, you’re going to potentially get a card that’s going to help you in the future.

I, personally love a card thats going to reward me. I’m going to want a card that’s going to reward me with my spending. Now you probably may be different, but don’t get it just because the balance transfer offer is great. Check out bank websites, credit card offer comparison tools, and more!

Keith

Robert S asked:


I am wondering if its worth to apply for a car loan with my credit score of 610.
I need financing in amount of 16,000 USD
I have 3 credit cards with 90 percent of balances on them
I also have personal loan of 5000 USD
I make 56K a year
Within last 3 years I am always on time with my bills and have no issues
I had some delinquencies 4 yrs ago and they r still on my credit report. They r all paid in full though and are 4 yrs old.

Also if you think I might qualify for 16K car load, please feel free to suggest the lender.

Thank you
my total debt now is 8000 USD
my yearly income is 56 000 USD

Gilbert

Gary Gresham asked:




Every consumer in America has the right to a free credit report once every year by law as of September 2005. But since that law has passed there has been nothing but confusion.

The web sites that say they are offering this so called free credit report, are asking us to give them our credit card information. Does that sound like a free credit report to you?

You may have even given your credit card number to these companies to sign up for a thirty day trial for a credit service that has almost nothing to do with getting your free credit report.

In all fairness, you can cancel this service after thirty days. But how many people do you think forget and end up with monthly or even annual credit card charges?

In fact, these companies are counting on you forgetting about the thirty day trial and charging that fee on your credit card. But if the law says you get a free report, what’s the deal?

A lot of people are confused about these free credit reports because of how some companies are marketing the free credit report. Hopefully, this information will clear a few things up for you.

For people who just want the bottom line, a free credit report is available at http://www.AnnualCreditReport.com and this is the only official site that helps consumers to obtain their annual free credit report.

This site’s security protocols are excellent with physical and technological security and encryption. That’s important for identity theft purposes because the information on your credit report should be seen by your eyes only.

So if this site is readily available and anyone can get a free credit report once a year, what’s the catch? Here is the catch: the credit report you get from http://www.AnnualCreditReport.com does not have any credit scores.

Now you may be asking, “Then what good is getting this free credit report without a credit score?” There are a few good reasons why you may want to look at your credit report even without a credit score.

Did you know that more than forty percent of all credit reports have errors? If you spot these errors, you can get them cleared up before it affects your credit score. If you contact a credit bureau about an error, they have to clear it up or remove it after thirty days by law.

If you monitor and review your credit report, you can check to be sure that you are not a victim of identity theft. If someone takes over your accounts and charges up thousands of dollars in debt, they can destroy your credit score in a matter of hours.

These are just a couple of good reasons why you want to get your free credit report once a year and inspect it just to be sure everything looks like it should. You can get your free credit report online at http://www.AnnualCreditReport.com or by phone or through the mail.

So where do you get your credit score from? This is where the confusion comes in and here is the answer. The law Congress passed did not say anything about a credit score just one free credit report a year per consumer.

You have to pay a service to get your credit score and some companies are confusing people with the way they are marketing this. They offer you a free credit report and score and many consumers believe it’s their annual free credit report.

But if you have to sign up for a credit service they offer for a 30 day trial period, does that sound free? What these companies are counting on is you forgetting about the 30 day trial and charging a fee on your credit card once that trial period is over.

It’s in the fine print, but how many people actually read that. So here is a good common sense rule of thumb. Any time you have to give your credit card information, ask yourself, “is this really free?”

Many of you probably know this is happening because you have been trapped with this kind of marketing tactic. But for those of you that just want your annual free credit report, you can at least be aware as to what is really going on and have a no nonsense way to get it.

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Tags: Annualcreditreport, Bottom Line, Confusion, Credit Card Charges, Credit Card Information, Credit Scores, Encryption, Fairness, Free Credit Report, Free Credit Report Once A Year, Free Credit Reports, Identity Theft, Marketing Report, Security Protocols, Thirty Days

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