free 3 credit report – rating score

June 15, 2010

3 in 1 Credit Reports – The Benefits of Getting 3 Annual Credit Reports

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 11:39 pm
Davion Wong asked:




The 3 in 1 credit report is just the right tool for you to improve your overall credit score by identifying areas for improvement in your financial status. It contains the summary of your financial records from the three major reporting bureaus in order to come up with a baseline for other companies to evaluate your credit worthiness. This is like the report card of your financial health which most institutes pay a close attention to.

In other words, the information in your 3 in 1 credit report helps other financial institutions to judge your capacity to pay for your applied loans by judging your financial reputation based on your previous payment history and behavior. This will help them minimize past due accounts in the future. On your part, this will also help you get applied loans easily approved if you have good financial records. As you can see, having a clean record is important and should not be neglected at all costs.

In the United States, the three main reporting agencies are Trans Union, Experian, and Equifax; and the most commonly used method of scoring is the FICO score which was developed by the Fair Isaac Corporation by using a mathematical formula. These three main reporting bureaus use different scoring formula aside from FICO score such as the Emperica score and Beacon score. As a lay person, you need not be overly concerned about this formula.

The scores found on your 3 in 1 credit reports were mathematically designed to measure the risk of an individual of defaulting a loan; taking into consideration many different aspects of financial records. Such aspects like your outstanding loans, promptness on payment, types of credits used, length of payment, and the total amount of credit applied. As a general rule of thumb, as long as you make sure that you make your payments on time and do not take unnecessarily huge loans, you are generally safe.

The FICO score in your credit report varies depending on your overall financial performance. It usually ranges from 300 to 850; a score above 720 indicates that you are a good risk while any score below 600 is considered a poor risk. Hence, always try to get your annual 3 in 1 credit reports in order to get a fair estimate of your current credit score and make necessary changes to improve your score way beyond the ideal level.

Jackie

June 13, 2010

Clean Your Credit Report

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 11:35 am
Lee Selders asked:




What you will need:

1. A black permanent marker,
2. A copier,
3. Envelopes,
4. Stamps,
5. A telephone.

1. Call all 3 credit reporting agencies and order your credit report-it is free. Your order will be automated.

Transunion: 1-877-322-8228
Equifax: 1-877-322-8228
Experian: 1-877-322-8228

2. When you get your reports make a copy (front and back) of each report.

3. You will notice that all of the creditors are in long strings across the long part of the page.

4. The ‘good’ reports are usually the first ones reported (but not always, you will have to scrutinize each report) .

5. Do not do anything with the good reports.

6. When you come to the ‘bad’ reports you will want to do one of the following:

a) If it is for late payments it will show 30, 60 or 90 days late. . . . . if it shows 30 days late you will take your black permanent marker and write across the entry “NEVER 30 DAYS LATE” or enter the number of days that it states payment has been late.

b) If it shows that you are in default of payments you will write across the entry “NOT MINE”.

c) If it is a notice of federal tax lien, write “NOT MINE”.

7. By writing this across the entry forces the reporting agency to verify that it is yours or that it was late.

8. If you have several ‘bad’ entries, do not do all of them at once, pick 3-5 for each mailing.

9. Make a copy of what you send for your records. (This will prove to be an important step as it will let you know what you have already done. )

10. You only need to enclose the page(s) of the corrections you have made for mailing back to the reporting agency, no cover letter or cover page is necessary.

11. The reporting agency will send you an updated report within 30 days and either strike it altogether, or they will state that it is verified to be correct.

12. If they say it is verified do the same thing that you did the first time and send it back.

13. Understand that they cannot verify since they have no first hand knowledge of who you are.

14. There may be other names on your report, make sure that you write through them “NOT ME”.

15. You may have to take some time with this, but it will eventually clean up your entire report.

16. Be diligent and even if you find you must send in for the same ones several times, they will eventually take it off.

Benjamin

June 7, 2010

Free Copy Of Credit Report

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 9:47 pm
Thomas Morva asked:




A recent amendment to the federal Fair Credit Reporting Act (FCRA) obligates the three nationwide consumer credit reporting companies – Equifax, Experian and Trans Union – to provide a free credit report to any consumer who requests it.

The importance of a credit report cannot be ignored. An accurate report can help you obtain loans for major purchases, or even help you rent an apartment. All this, and more, becomes difficult if you have negative errors in your report.

A negative report can prove to be an obstacle if you are job hunting. This is because most employers will go through your credit history before offering employment. If you are actually employed, then a negative report can reduce your chances for further promotion. And, what if the end of it you realize that these errors were because of no fault of yours and that they could have been sorted out in the first place. You can avoid this situation by ordering a free credit report.

Once you get it, make sure the information provided in it is correct. This means that you must verify that your personal details such as your name, address, date of birth, and also the name of your current employer are correct. When this is done, do a check on your financial status. This is because your report will also contain information of your bank accounts, loans, credit payments. In other words, your credit card is also in a way your financial statement on which your future transactions will depend.

If you find any discrepancies, file a report in writing, with any one of the consumer reporting companies, for action. Apart from providing you with the opportunity to verify your accounts and check your credit score, these reports also provide a listing of the companies who have made enquiries on your reports.

These consumer reporting companies sell this information to bankers, creditors, insurers, employers and other business houses. It is imperative to order a free copy to ensure that there are no inaccuracies or errors in your report.

Susan

June 6, 2010

Clean Credit Report – Easily Raise Your Credit Score 100 Points

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 8:12 pm
Vincent Dail asked:




Your credit report contains information about where you work, live and how you pay your bills (On time or not). It also may show whether you’ve been sued, arrested or have filed for bankruptcy with in the last 10 years. Companies called consumer reporting agencies (cra) or credit bureaus compile and sell your credit report to businesses all over the world.

Many financial advisors suggest that you periodically review your credit report for inaccuracies or omissions. This could be especially important if you’re considering making a major purchase, such as buying a home. Checking in advance on the accuracy of information in your credit file could speed the credit-granting process, clean credit is a must.

Because businesses use this information to evaluate your applications for credit, insurance, employment, and other purposes allowed by the Fair Credit Reporting Act (FCRA), it’s important that the information in your report is complete and accurate.

Whenever you apply for any type of credit or financing, a credit report is pulled from at least one of the three major credit bureaus. You want a clean credit report to be pulled. While there are hundreds of smaller credit bureaus around the country, virtually every credit bureau is affiliated with either Experian, Trans Union, or Equifax.

Getting Your Clean Credit Report

If you’ve been denied credit, insurance, or employment because of information supplied by a credit reporting agency, the FCRA says the company you applied to must give you the agency`s name, address, and telephone number. If you contact the agency for a copy of your report within 60 days of receiving a denial notice, the report is free. In addition, you’re entitled to one free copy of your report a year.

If you simply want a copy of your report, call each credit bureau listed since more than one agency may have a file on you, some with different information.

The three major national credit bureaus are:

Equifax, P.O. Box 740241, Atlanta, GA 30374-0241; (800) 685-1111.

Experian (formerly TRW), P.O. Box 2002, Allen, TX 75013; (888) EXPERIAN (397-3742).

Trans Union, P.O. Box 1000, Chester, PA 19022; (800) 916-8800.

Correcting Errors For Clean Credit.

To protect all your rights under the law and to keep your credit clean contact both the CRA and the information provider.

First to get clean credit reports, tell the credit reporting agency in writing what information you believe is inaccurate. Include copies (please keep your originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request deletion or correction. Always keep copies of your dispute letter.

They must reinvestigate the items in question, usually within 30 days, unless they consider your dispute frivolous. They also must forward all relevant data you provide about the dispute to the information provider. After the information provider receives notice of a dispute from the CRA, it must investigate, review all relevant information provided by the CRA, and report the results to the CRA. If the information provider finds the disputed information to be inaccurate, it must notify all nationwide CRAs so they can correct this information in your file. Disputed information that cannot be verified must be deleted from your file, then you will recieve a clean credit report, with that item removed.

If your report contains erroneous information, the CRA must correct it(clean credit).

If an item is incomplete, the CRA must complete it. For example, if your file showed that you were late making payments ( 30 days or more), but failed to show that you were no longer delinquent, the CRA must show that you’re current.

If your file shows an account that belongs only to another person, the CRA must delete it.

When the reinvestigation is complete, they must give you the written results and a free copy of your clean credit report, if the dispute results in a change. If an item is changed or removed, they cannot put the disputed information back in your file unless the information provider verifies its accuracy and completeness.

Also, if you request, they must send notices of clean credit report corrections to anyone who received your report in the past six months. Job applicants can have a corrected copy of their clean credit report sent to anyone who received a copy during the past two years for employment purposes. If a reinvestigation does not resolve your dispute, ask the CRA to include your statement of the dispute in your file and in future reports.

Second, in addition to writing to the credit agency, tell the creditor or other information provider in writing that you dispute an item. Again, include copies (please not originals) of documents that support your position. Many providers specify an address for disputes. If the provider then reports the item to any credit reporting angency, it must include a notice of your dispute. In addition, if you are correct that is, if the disputed information is not accurate the information provider may not use it again, thus you will have a clean credit report.

When negative information in your report is accurate, only the passage of time can assure its removal. Accurate negative information can generally stay on your report for 7 years.

Clean Credit: There are certain exceptions:

Bankruptcy information may be reported for 10 years.

Information about criminal convictions may be reported without any time limitation.

Credit information reported in response to an application for a job with a salary of more than $75,000 has no time limit.

Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. Criminal convictions can be reported without any time limit.

Credit information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit.

Adding clean credit accounts to your file:

Your credit file may not reflect all your clean credit accounts. Although most national department stores and all-purpose bank credit card accounts will be included in your file, not all creditors supply information: Some travel, entertainment, gasoline card companies, local retailers, and credit unions are among those creditors that don’t report clean credit.

If you’ve been told you were denied clean credit because of an insufficient credit file or no credit file and you have accounts with creditors that don’t appear in your credit file, ask the CRA to add this information to future reports. This will help get you on the road to a clean credit report. Although they are not required to do so, many CRAs will add verifiable accounts for a fee. You should, however, understand that if these creditors do not report to the CRA on a regular basis, these added items will not be updated in your file.

Terri

June 5, 2010

Is it this hard fighting for your credit?

Filed under: Credit — Tags: , , , , , , , , , , , , , , — admin @ 7:28 pm
SMA asked:


I recently found out my credit is good with Experian and bad with TransUnion and Equifax (all in the 600s) but when I called and disputed an old utility bill someone had with my social security number (my ex husband) they gave me the third degree like I was the thief! It ticked me off to say the least. Then when you speak to TransUion they are telling you your report may have changed since you’ve ordered it two days ago..and they ask you do you want the free 30 day trial when and then to be billed afterwards, even though you are paying for your credit report each month!! Talk about money grubbing!! Experian was awesome about the whole situation though their customer service was better. I don’t know about Equifax yet. They are like the lochness monster of credit. I have to write them via certified mail.

Are all credit companies this rude?
Do you think their should be tougher laws on people who steal the identities of others?
Do you think you should be held responsible for your ex spouses debt?
Do you think Experian, Equifax, and TransUnion should have better customer service and finally
Do you think you should be able to obtain a copy of your credit report for free every six months instead of one report one time per year???

Back story: Tried to get a car I was denied citing my credit report. Then I tried to get a new apartment couldn’t because I was 2-3 points too low on my credit score so I was denied an apartment too! Found out my identity was stolen by some thief who broke into my home Christmas ’05, my sister, AND my ex-husband!!!
I do have the police report from 2005 amongst my important papers. Luckily. Two and a half years ago I bought a car with no problem and I paid it off on time never late not once. I’ve never had any credit cards or credit card debt. Yeah I got TransUnion and Experian on the phone. I gave TransUnion the number of the company that my ex husband used to get lights in my name. I never signed anything to get lights on. I just hope I can fix the situation soon. Thank you for your great answers. :)

Valerie

May 30, 2010

700 Credit Score – Is 700 a Good Credit Score?

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 12:15 pm
Chris Jollife asked:




A 700 credit score is quite common. If you are wondering whether a 700 credit score is good or bad, and you would like to know how to improve your credit score then read this article to discover the benefits of and methods of getting a good credit score which is above the 700 level.

In this article we will look at why having a good credit history is important how to find out what your credit score is if you do not already know, and discuss whether a 700 credit score is good or bad. We will also look at methods that you can use to rebuild and repair low FICO scores. After reading this article you should have a pretty good idea about how these scores are calculated and what you can do to improve them.

Why having a good credit history is important

These days it is very important to have a good credit history and score. Reports and scores determine whether a lender will let you borrow money at a good rate of interest. If you have a very poor credit history then it is unlikely that anyone will be willing to lend you any money at all, as you will be considered a bad risk to them and they will think that you are less likely to meet your payments than someone with a better history of managing their debt.

If you are thinking of applying for a car loan, mortgage or any credit-card then it is probably a good idea to check out your FICO score and history with the credit reporting bureaus first. If you apply for a loan, mortgage or credit-card and get turned down, this enquiry on your report can be seen by other lenders and may put them off lending money to you as repeated applications can harm your FICO score.

How to find out what your credit score is if you do not already know

If you do not know what your credit score is then you can find it out by applying to the credit bureaus. These credit reporting agencies are Experian, TransUnion and Equifax. They are obliged to provide you with one copy of your free credit report every 12 months. There may be a charge for them to provide you with your actual credit score though. This FICO score may be slightly different with each credit reporting agency.

You should also be aware that lenders may calculate your credit score differently to the credit reporting agencies. When you request your credit score from either Experian, TransUnion or Equifax they will only take into account your personal credit history. If you are financially linked to another individual who has a poor credit history then this may not be apparent from looking at your FICO score as provided by the credit bureaus.

If for example you have a joint bank account with your husband or wife and they have a poor history of managing debt, then this may reflect poorly on you, and you may not find it as easy as you might think to obtain loans.

Is 700 A Good Credit Score?

A 700 credit score is quite good. A FICO score over 700 is very good, but anything below the 700 mark is not so great. The typical range of values that credit scores can be is anywhere between 350 and 850, these figures are quite extreme though, 700 is fairly typical. The chances are that if this is your FICO score that it can be improved. If you have a score of 620 for example, it could definitely use some work. Let us take a look at some methods that you can use to get your FICO score over 700 or even higher. Any work that you do to improve your credit score is well worthwhile and will result in you being able to get a loan at a better interest rate and lenders will be more inclined to want to do business with you.

Methods that you can use to improve and repair a FICO score

Try to repay any loans or credit-cards that you have on time each month. If you are struggling to meet your payments then contact the lender and they may be able to work out an easier way for you to clear your balance, such as extending the loan over a longer period. Always pay your household utility bills on time. Try not to miss any payments at all. Request your credit report from the credit bureaus and dispute any errors that you find on it. This will get any mistakes deleted from your report.

If you are able to pay off any loans or credit cards then do so, but do not close the accounts. This is because lenders often calculate your score based on how much debt you have compared to the total amount of money which you have available to borrow.

In conclusion, if you have a 700 credit score it is actually quite good. This does not mean that you cannot improve on it and make yourself a more attractive prospect to consumer credit lenders such as banks and credit card companies. If you do decide to get your credit score over 700 then make sure that you follow a proven system which if successful, will open up the possibility of you being able to borrow money at a good interest rate. This is something that you can do yourself and there is no need to employ anyone else to do this for you.

You certainly should not employ the services of any credit repair companies which claim to be able to improve your situation instantly. Getting and improving on a 700 credit score is something that you can do yourself quite easily. All you need is a step-by-step blueprint which provides you with all the information that you need to know. There is one such step-by-step method to raise your credit score which I recommend.

Janet

May 28, 2010

Where to Find Information on Obtaining an Absolutely Free Credit Report, No Trial

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 9:35 am
Tim Gorman asked:




The act of obtaining credit reports for free was mandated by a federal law enacted in 2003. The program was then rolled out across the country, starting with the West Coast. Free credit reports requested online are viewable immediately upon authentication of identity. Your credit history is a summary of your financial history. It is a document that determines whether or not you get a mortgage, car loan or other loan, as well as what interest rate you’re charged for those loans.

A free credit report is available through any of the three major bureaus – Trans Union, Equifax and Experian – once every 12 months. If the consumer is denied lending, they can receive another free report within 60 days of the date they were denied a loan or lending account. This report is issued every year by the state and you can attain a copy of this report and check it so that there are no errors. This can also help you to obtain a good insurance score.

A free credit check is exactly what you need if you are unsure about your credit rating. It will allow you to find out exactly what is improving or diminishing your credit rating-and also help you to determine how best to react.

A credit report for free is available once a year from Equifax, Experian, and TransUnion at designated websites. Instead of getting all three at once, get a different one each quarter. A free credit report is not just a privilege for a select few; it’s the right of all to acquire. This came about because the United States Congress in 2003 enacted the Fair and Accurate Credit Transactions Act (FACT), allowing every American citizen to get a free copy of their credit report once a year. A free credit report is available through any of the three major bureaus. Knowing what’s on your credit report can help prevent identity fraud.

A free credit report is that vital document you would require when applying for any type of financial service. Any inaccuracies and misleading data occurring anywhere on your report can lead to hassles, a lengthier processing period, and can even result in a service being denied.

If you have already used up your free report sometime during the year and you want another free report, just apply for credit and get turned down, this will allow that you get a free report to see what is on your credit history.

Phillip

May 22, 2010

Simple Ways To Order Your Three Free Annual Credit Reports From The Credit Reporting Companies

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 2:05 pm
Tim Gorman asked:




The Fair Credit Reporting Act (FCRA) mandates each of America’s credit reporting companies to provide each and every citizen with a free annual credit report on request – the three companies being Experian, Equifax and TransUnion. These three financial organizations have jointly hosted a common website from where consumers can order their free report online. There are many websites that offer free credit reports but they are never absolutely free – they will offer this as part of some other service for which you will be charged. You need to be aware of some devious tactics followed by some of these companies – in fact, if you make a spelling error in the website address, you are likely to be led to a site that will actually charge you for your credit information before they actually release it to you!

The three credit agencies also provide the annual credit report for free through a toll free telephone number 1-877-322-8228 and also through a mail request if you send a filled-in annual credit report request form to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-528. You can get your credit history and information for free only through the above avenues – any other way, including contacting the three companies independently, would most likely involve some form of payment or charges.

Having learned the ways to get an annual credit report absolutely free, you might want to know what use the information will be to you. A credit report is necessary for you to get information about your credit worthiness; that is, how the lenders in the financial market perceive you in terms of being a financial risk to them should they loan you money. It lets you keep a close watch on your credit score which actually determines how much credit you can get and what interest rates you will be charged. If you have a high score or above average rating it stands to reason that you can command higher loan amounts at lower interest rates compared to a person whose credit rating is not so good.

Using the personal information provided in your report, you can also make sure that no identity theft has happened using your personal identity. The list of your debts, along with your payments details, late payments and pending payments will be provided in great detail in the report. By keeping a track of this, it is a simple task to spot an identity theft that may have taken place. In case your identity has been stolen and has been used to get loans other than what you own, you can flag it and then report it to the credit agency immediately.

You can get three credit reports using one of the ways stated above – one report from each of the credit reporting companies. You can choose to order them simultaneously or at different times. Ordering them at three different times through the year is a good idea because you can track your credit rating through out the year. If you order the your history after taking a particularly heavy credit or after paying off a heavy debt, it can prove to be very useful. You will know the exact impact the latest transaction has created on your rating, by comparing the current credit report and the previous one.

Now that the uses of a credit report are apparent and you know that there are simple ways to order three credit reports absolutely free on an annual basis, you should reap maximum benefits by making use of the free service.

Louise

May 21, 2010

Get A Free Credit Report

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 3:43 am
Nicholas MacLoughlin asked:




Credit reports are now available online and there are many websites that are offering this kind of service. Some are offering this service for free while some are also asking for a payment.

Being one of the bureaus participating in providing reports, Experian explains how to get free credit. If you are a member of the Experian center, simply log in to your account. Right there, you can view your current report information. A member can get credit for free from Experian through online, through written report, or through telephone.

If you are a person who is looking for the best place to get free credit, choose the website provided by the government. This website is a certified report provider from 3 of the biggest credit companies namely Experian, Equifax, and Trans Union. The website of the government for credit card report is AnnualCreditReport.com. This is the best way to get credit for free because it is mandated by the federal government for the sole purpose of providing credit reports to all US citizens.

Here are also simple tips on how to get free credit report:

1. Search for “free credit reports” online using search engines such as Google;
2. Contact the main companies that actually offer free credit such as the Experian, Equifax, and Trans Union.

The number 2 option is much better because you feel more secure that you are providing your personal information such as name, address and birthday to the correct company or website.

All United States consumers are entitled to get report for free once a year. All US consumers should take advantage of this right because it would greatly help them to manage their financial status. It is important for all Americans to view their reports because in this way, they are able to make important decisions about taking the risk and making credits or loans, or to know where to best ask for financial assistance when planning on entering into any kind of money matter.

To get free credit report online, usual steps include providing personal information such as full name, date of birth, address and social security number. This information is important for the websites to authenticate the person requesting for the report. Many people actually try to access other’s credit and do unauthorized activities. In order to avoid this, make sure that all important information should be kept confidential to one’s self.

Kurt

May 12, 2010

How To Obtain a Free Credit Report

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 2:27 am
Carrie Reeder asked:




Ready to apply for a mortgage loan? Thinking about getting a new credit card? Before you do, you may want to review a copy of your credit report to ensure that all your information is accurate. And, fortunately, there are quite a few ways to obtain a free copy of your credit report. Here’s how:

Make a phone call

There are three major credit reporting bureaus: Equifax, Experian and TransUnion. They are legally required to provide you with a copy of your credit report–for free!–once a year. And obtaining your report can be as simple as making a phone call! Just do an Internet search to find the phone numbers of the three credit reporting bureaus, and call each one individually. In most cases you’ll give your information to an automated voice mail service, and in no time at all your reports will be delivered to your mailbox.

Write a letter

Don’t trust the automated voice mail system? Need your request in writing for paperwork reasons? When you search online for the three credit bureaus’ information, look for a snail mail address. In most cases, you can simply send a letter that includes all your basic information–name, address, social security number, phone number and previous addresses. Ask for a copy of your credit report. Although this process takes a little longer than a phone call–because you have to wait for the postal service–you should still have your credit reports in a relatively short amount of time.

Go online!

The quickest and easiest way to get your free credit report is to go online. You can either access your reports directly through the credit reporting bureau, or you can find a website that consolidates these reports into one. Either way, you’ll get your information instantly–no waiting! You can print out your report so that you can review it at your leisure.

Try using one of ABC Loan Guide’s Recommended Companies For a Free Credit Report Online.

No matter which method you choose for obtaining your credit report, remember: it should be free once a year. However, you may have to pay a small fee if you want your credit score, too.

Annie
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