| |
| |
| Credit Information | |
|
|
|
Free Credit Reports - How to Maintain Your Credit Profile
Maintaining your Credit Profile Every consumer should be maintaining their credit profiles to ensure the highest scores possible. To do so, you must first order your credit reports from the three major credit bureaus: Equifax, Trans Union, and Experian. The federal Fair Credit Reporting Act (FCRA) entitles you to a copy of your credit Report for free, provided you meet the following criteria: ? You have been denied credit because of information in your credit report within the last 60 days. ? You are currently unemployed and are seeking employment. ? You receive public assistance. ? You believe that your credit file contains errors due to fraud or identity theft. Additionally, you also may be able to get your credit report and credit score from other business or companies. For example, if you live in California and are shopping for a home loan, the lender must provide you with your credit score by law. Several other states require that credit scores be disclosed to consumers. It's possible to receive a free copy of your credit reports annually if you live in Colorado, Georgia, Massachusetts, New Jersey, Vermont and Maryland. Recently Congress passed a law which affords each of us the right to a free credit report annually. Below is a listing of the start dates for this particular program: Consumers in the Western states - Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming - can order their free reports beginning December 1, 2004. Consumers in the Midwestern states - Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin - can order their free reports beginning March 1, 2005. Consumers in the Southern states - Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee, and Texas - can order their free reports beginning June 1, 2005. Consumers in the Eastern states - Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia - the District of Columbia, Puerto Rico, and all U.S. territories can order their free reports beginning September 1, 2005. To take advantage of the free annual credit report, please visit: www.annualcreditreport.com. Why is it important to "maintain our credit profile"? You have to have good credit, or at least decent credit, for a lender to consider you as a worthy credit risk. With our credit score being used in everything from insurance to interest rates on loans, we need to ensure that we manage our credit properly. There is also the an epedimic going on called Identity Theft. The FBI released a study in May 2005 which stated that Identity Theft has caused over $52.6 billion dollars in total losses for 2004. With over 4.6% of the population being effected by Identity Theft, you can never be too careful. Identity Theft is simply an individual assuming another identity, and often times leads to other financial crimes such as credit card fraud, mortgage fraud, and check fraud. By monitoring our credit reports frequently and utilizing our credit responsibily, we can take control of our financial futures to ensure that our profiles are accurate. For more information regarding your credit scores, credit reports or debt options currently available to you, please contact Gateway Credit Connection or visit us online at http://www.creditmonkey.com Michael Goff is the Co-Founder of Gateway Credit Connection, helping empower consumers to take control of their personal and business finances.
MORE RESOURCES:
Credit - Google News |
|
|
|
RELATED ARTICLES
Tired Of Being Broke?...Learn How To Force Banks To Give You Money! Imagine.. Five Credit Card Billing Problems and How to Fix Them It goes without saying that your first and best defense against paying fraudulent or unfair charges on your credit card is knowing what your bill says! When you receive your credit card statement each month, sit down with it and check each item to make sure that you actually DID purchase it. If you do run into inaccuracies or problems, there are procedures to follow to report and deal with the charges. How To Eliminate Credit Card Debt There is almost nothing more troublesome than having too much debt to pay each month. Consumers incur debt for many different reasons. Credit Verus Debt Secured and unsecured debt - what's the difference?It's easy to just think that debt is just debt, but in reality, there are different types of loans, and it's important to know what which type you have.You will need to understand the differences in order to be a good money manager, or, if the worse happens and you find yourself turning to credit or debt counseling, you'll need to understand how different types of debt can be handled. 10 Simple Steps to Manage Your Credit By far the greatest invention the banks have ever come up with came out in the 20th century. Also the new field of Credit Management was born with the invention of the credit card. Free Credit Report - A Website Typo Could Be Costly In 2003, Congress passed the Fair and Accurate Credit Transactions act (FACT), which made it possible for consumers to obtain a copy of their credit report for free. In fact, the legislation makes it possible for consumers to obtain one free report from each of the three main credit bureaus - Experian, Trans Union, and Equifax, per year. Why Should You Use Credit Cards Believe it or not, the way society, especially the commercial side, is set up these days, the only alternative to using credit is to pay cash for everything. But it's actually quite hard to do that. Simplifying Your Search For a New Credit Card Today, selecting the proper credit card can be a bit confusing to say the least. There are literally hundreds of offers from the major institutions eagerly competing for your business. How A Prepaid Debit Card Can Help You Rebuild Your Credit Consumers today are up to their eyeballs in debt. And many people don't realize it until their good credit has been devastated. 3 Free Credit Reports For You If you were to tell someone that they can have a certain item for free, more than likely their response would be, "what's the catch?" In the case of credit reports there is no catch, you can now get a free copy of this report through the three credit reporting agencies: Equifax, TransUnions, and Experian. Let's take a look at the law and how you can benefit from it. How To Read Your Credit Report The Fair and Accurate Credit Transactions Act, signed into law on Dec. 4, 2003, gives every American the right to a free credit report every year from each of the three major credit bureaus -- Equifax, Experian and TransUnion. What is a Bad Credit History? A bad credit history can sometimes seem like a curse.. Figuring Out the Ever Nebulous Numbers Called Credit Scores Credit Score FactorsThe information contained on our credit reports affect every aspect of our lives; including employment, insurance, and even interest rates (mortgage, credit cards, automobiles, etc.). Credit Trap: What They Dont Tell You About Credit Cards In College In industrialized nations, going into debt starts early. It's easy for an eighteen-year-old to get credit cards and fall into debt, especially if they're headed for college. Errors on Your Credit Report: What You Should Do There are times when you may be turned down for credit and you do not understand why. According to the Fair Credit Reporting Act you are entitled to a free copy of your credit report if you have been denied credit because of negative items on your credit report within 60 days of the request for credit, if you are unemployed but looking for work, are on welfare, or believe that your credit report is incorrect because of fraud. Identity Theft - How to Protect Yourself "Like the tan? I got tons of sun on that Caribbean cruise. First class tickets to Florida and back! Nope, not an airline upgrade. A No-Brainer Way Of Getting Credit And Credit Cards What Is Your Credit Rating Now?If you have any charge accounts now, or have ever borrowed from the bank to buy a car, or if you ar paying on a mortgage, there is credit information on you.Up until a few years ago, you could only guess at what your credit rating was, because the credit bureaus who keep track of borrowers wouldn't tell the borrowers anything! But that's been changed through several laws, and now the bureaus have to send you your credit file when you request it. Different Types of Credit Cards and Features - Part 1 Just as there are too many credit card companies to count, there seems to be just as many different credit cards, all claiming to offer you the best possible deal. Since no two people are alike, not all programs and incentives will work the same for everyone. 3 Ways to Improve Your Credit Score by 50 Points In Less Than 30 Days In Less Than 30 Days. "What can you do to increase that set of three numbers on your credit report that can be so important with your financing?" I came across this question as I was surfing discussion groups the other day. Credit Card Benefits and Drawbacks Credit cards have both benefits and drawbacks. It is wise to consider both before applying for a credit card.
|
| home | site map |
| © myfinancialsolutiononline.com 2007 |
