Thursday, January 12, 2006

Be aware of your credit

You will be doing yourself an injustice if you do not check your credit reports (, thanks to my other coworker who provided me with the link. It is FREE if you check them once a year. Any more, it charges you. So use your time wisely and check the credit reports when it is due. For example, I checked mine last Spring, so it is probably best for me to check again this May.

We all have three reports, so please check every one of them and look for any inconspiracies/errors, and report to the credit bureau responsible to fix. TransUnion, Equifax, and Experidan are the credit bureaus. If you have lousy report, you get a lower score, meaning it is more difficult for you to get a loan or apply for a credit card.

How we can acheive a better credit report, is to, of course, pay all of your bills on time. Also, avoid checking with too many loan officers or credit card companies. They will check your credit reports. If they check your credit reports too much, it will affect your rating significantly. Avoid having too much credit cards, loans, or late payments. Hmm that's all I can think of right now, but I am sure there are other ways to improve credit score.


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