Your credit can impact everything from your bills to your car loan to your ability to land the apartment of your dreams, so you should probably know what your credit looks like. If you’re not sure how to go about getting a copy of your score or report, we’ve got you covered. Like it or not, credit matters. It’s also complicated. In our “Everything You Need to Know About Credit” series, we’re breaking down the basics. Your Report Is More Important Than Your Score Let’s get one thing out of the way: your credit report and credit score are not the same thing. Your report is a history of all of your credit accounts, from bank credit cards to student loans to that NY & Co. card you opened when you got your first “real” job out of college and wanted some cute basics. When a lender, landlord, or mortgage company pulls a copy of your report, they see this history, which also tells them if you defaulted on a loan, paid a card late, or … [Read more...] about How to Check Your Credit Report and Score
How to get a copy of your credit report
You should check your credit regularly in order to see where you stand financially. You should also review your credit to catch fraud. Keep in mind that you can check your own credit as often as you like without hurting it. In fact, it is a good idea to check your credit regularly, so that you can see what is affecting your score.”— Patrick MansfieldHOUSTON, TEXAS, USA, January 3, 2019 /EINPresswire.com/ -- How Often Should You Check Your Credit Report?U.S. Gov Connect You should check your credit regularly in order to see where you stand financially. You should also review your credit to catch fraud, many people do not know that they have been a victim of fraud until they check their credit report. Fraudulent information can lower your FICO score. It can also make it harder for you to get a credit card or loan. It is important to note that your credit may be checked by an employer. This is especially true if the job requires that you handle money. Additionally, a low … [Read more...] about How Often Should You Check Your Credit Report?
Photo: Elise Amendola Image 1of/1 CaptionClose Image 1 of 1 In this March 5, 2012 file photo, consumer credit cards are posed in North Andover, Mass. A new law set to take effect Sunday, July 1, 2018, will prohibit consumer credit reporting agencies from charging Georgia residents to freeze their credit report. Placing a freeze on your credit is a security measure that can be used to combat identity theft. It essentially prevents creditors from obtaining your credit report, making it nearly impossible to open a new account. Credit reporting agencies were previously allowed to charge a fee of up to $3 to freeze or unfreeze a report. (AP Photo/Elise Amendola, File) less In this March 5, 2012 file photo, consumer credit cards are posed in North Andover, Mass. A new law set to take effect Sunday, July 1, 2018, will prohibit consumer credit reporting agencies from charging ... more Photo: Elise Amendola … [Read more...] about Millennials, here’s how to get first credit card
Robert Powell Special to USA TODAY Published 10:00 p.m. UTC Jul 5, 2018 More and more Americans are checking their credit and understand how the scoring system works. The percentage of consumers who have obtained at least one credit score over the past four years has risen to 57 percent in 2018, up from 49 percent four years ago, according to a survey released in June by the Consumer Federation of America (CFA) and VantageScore Solutions. The survey also shows that people who get their score know much more about how the system works than do those who do not. For instance, large majorities of people correctly identify three key factors used to calculate credit scores – missed payments (86 percent), high credit-card balances (81 percent) and personal bankruptcy (79 percent). Even so, there are gaps in knowledge. Significant minorities incorrectly think that age (41 percent) and marital status (38 percent) are … [Read more...] about 9 things to know about your credit score and how it’s calculated
How long does it take for your credit score to rebound from a “soft inquiry?” That’s what Tiffany wants to know for this week’s Money Monday: I inquired about a car loan and the dealer said soft inquiry, but performed six hard inquiries against my report. I never purchased a vehicle. My score has since dropped 75 points. How long will it take for my score to go back up? How can I determine how many points it dropped per hit? Each Monday we’re tackling one of your pressing personal finance questions by asking a handful of money experts for their advice. If you have a general question or money concern, or just want to talk about something PeFi-related, leave it in the comments or email me at [email protected] This is what individual experts have to say generally about an issue that affects each person differently—if you want personalized advice you should see a financial planner. Recovering from a Credit Score Drop You have good … [Read more...] about How Long It Takes Your Credit Score to Recover from a Drastic Drop