How to Get a Credit Report at No Charge

By law, you can view your credit report for free once per year from each of the major credit reporting agencies: Equifax, Experian and TransUnion. You should do this yearly to check the accounts listed on your credit reports to make sure there are no inaccuracies. There are several ways you can get your credit report and it will only take a few minutes of your time. Instructions 1 Go to to AnnualCreditReport.com and fill out an application to view your credit report. Fill out your personal information and answer financial questions to confirm...

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How to Remove Sallie Mae from Your Credit Report

Consumers' credit reports are very important and can impact their chances of getting a loan, a credit card or even a job. Consumers have the right to inspect their credit reports and can have them changed. If Sallie Mae, or anyone else, has reported a false or erroneous credit item on your report, you need to know what options are available to you and what steps you have to take to protect your credit history. Instructions 1 Know what your...

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How to Remove Credit History

Errors on credit histories happen. Equifax reports that it maintains the histories of over 200 million consumers with over two billion updates per month, with data being reported from over 15,000 sources such as lenders and credit card companies. Occasionally, consumers will find inaccurate data reported on their credit reports and often, history that should have been removed remains on the credit report after the allotted time period. Following...

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How to Improve Your Bad Credit Score

If you have bad credit, you can improve your score with a little work. You credit score determines your ability to get approved for loans as well as the interest rates you may get on those loans and credit cards. Staying on top of your debt and getting your bills paid help improve your score, but it does take time. Instructions 1 Get a free copy of your credit report. The national credit reporting agencies Experian, Equifax, and TransUnion...

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How to Raise Your Credit Score 50 to 100 Points in 6 Months

If you have run into circumstances that led to a poor credit rating, it can be disheartening to realize it may take years to rebuild your credit. The good news is that it is very realistic to raise your credit score 50 to 100 points in six months. Even better, the steps you must take to get these short-term results will put you firmly on the road to fully rebuilding your credit in the long-term. Instructions 1 Bring every one of your credit...

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Companies That Help Clean Up Credit

No magic formula exists to repair the effect of a bad payment history on your credit report. But there are companies that can help you understand the laws regulating credit reporting and how to use those laws to your advantage when dealing with negative entries on your credit report. As with any field, some companies are legitimate and others are not. It is up to you to decide if an organization can help you improve your credit score or if you are...

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Explanation of Credit Reports & Scores

Determining the creditworthiness and potential risk of a credit applicant is the major function of a credit score. This three-digit number is a key factor for interest rate assignment and credit applicant approval. The score is dynamic and changes monthly and even weekly. Many factors support the assignment of a credit score, so consumers need to be aware how their financial actions impact their score. Obtaining a copy of the credit report is...

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Improving Credit Scores Through Credit Card Payments

Paying off credit card debt is one of the best ways to raise your credit score. However, if you have a lot of debt, just figuring out how to pay off your credit cards can be a daunting task. Paying off credit cards should be completed one step at a time, and as you continue to pay off your credit cards, you'll see your credit score rise over time, even as your debt eventually dwindles down to nothing. Instructions 1 Gather all of your credit...

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What Does the Middle Number of Your Credit Score Mean?

You can have excellent scores at two credit bureaus, but a terrible one with the last bureau can end up costing you hundreds more in interest charges. The U.S. has three national credit bureaus, so you have three credit scores. The middle number of your credit scores is often the most important for lending decisions. Identification The major bureaus report most of the same data, but fail to find out about accounts from time to time because lenders may not report the account or it slips through the cracks. This can give a consumer a huge...

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Effect of Foreclosure on a Credit Rating

Credit ratings are a popular topic lately. The housing crisis forced many people to make extreme decisions that effected credit reports. Salvaging credit scores is important to many homeowners. Unfortunately one of the most negative impacts to a credit rating is foreclosure. Determining the impact of a foreclosure is not an exact science, however, it is possible to estimate the percentage decrease of a foreclosure. Foreclosures Foreclosures...

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Length of Time Debt Can Be Reported

If a creditor reports an issue on your credit report, it's important to know exactly how long that item will show on your credit history. Negative information can prevent you from accomplishing financial goals, such as securing a loan. Though it may take a while, all charges on your credit history must expire at some point in the future according to Fair Credit Reporting Act (FCRA) rules. Negative Items on Credit Report A negative item on a credit report is anything out of the ordinary that paints a negative picture of the borrower's status...

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Who Can Check Your Credit Report?

Your credit report contains sensitive information about your financial history. Lenders use this information to decide whether to approve you for a loan or credit card. Landlords look at it to decide whether you can make rent payments as a potential renter. Knowing who is allowed to view the report can help you understand if someone is viewing your information who shouldn't be. Fair Credit Reporting Act The Fair Credit Reporting Act lists who can access your credit report and for what reasons. Besides yourself, any person or organization...

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How Much Do Late Payments Affect a Credit Score?

Your credit score is a three-digit number that gives a simple indicator of your credit worthiness. It is used by lenders, financial institutions and insurance companies to make decisions about whether they wish to do business with you. Many things affect your credit score to varying degrees, including your payment history. Late payments lower your credit score and impair your ability to open credit cards, get loans and obtain insurance policies....

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How to Fix a Ding on My Credit Score

Fixing a ding on your credit score may take time. There are several reasons for dings on a credit report, such as consistent late payments, delinquency and information that was erroneously put on the credit report. Paying your bills on time and paying off delinquent accounts will repair your credit. Disputing incorrect information can also help to improve your score and remove any dings on your credit report. It is important to check your credit report on a regular basis to make sure everything is accurate. Instructions 1 Pull a free copy...

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Does Your Credit Score Drop or Go Up When You Buy a House?

Getting a mortgage to buy a house affects your credit score in both positive and negative ways. Your score considers five major areas of your credit use, all of which the mortgage impacts. Overall, expect your score to drop slightly at first and bounce back as you make payments on your mortgage. New Credit The main area in which your score will drop is the new credit portion of your score, which is about 10 percent of your overall score. When you apply for your mortgage and the lender checks your credit, this credit inquiry appears on your...

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About Credit Repair Companies

Credit repair companies claim that they can improve your credit rating score by deleting negative items, such as collection claims and bankruptcy judgments, from your credit report. Although legitimately removing inaccurate information from your credit report may improve your score, no quick solution exists for repairing damaged credit. A long-term credit repair plan involves paying your bills on time and managing your credit responsibly. Function...

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The Average Credit Score of Homebuyers

Lenders use a combination of factors to determine whether to approve or deny you for a home loan, including your credit score. Each lender may set its own credit score requirements, but knowing the average credit score among home buyers can help you assess your chances of obtaining a loan. Ideal Credit Score Credit scores range from 300 to 850. Though each lender has its own definition of what constitutes an ideal credit score, a score of 700 or higher significantly increases your chances of obtaining a mortgage loan. A score of at least...

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I Have Bad Credit: How Can I Fix It?

Bad credit can result from mismanagement of credit cards, bankruptcy, foreclosure or just not having any credit history. Although you cannot do anything to remove accurate negative information from your credit report before seven years have passed, or 10 in the case of bankruptcy, you can fix inaccurate information and start using credit responsibly going forward. Correct Credit Report If your bad credit is stemming from incorrect information on your credit report, dispute the errors to fix your credit. Identify errors by getting a free...

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The Right to Receive a Free Credit Report

The wise consumer knows what is in her credit report and makes it a habit to check the report at least once a year. Federal law guarantees every consumer the right to a free yearly inspection. Checking your credit report lets you know what your credit history looks like, as well as giving you the chance to correct any mistakes. Right to Inspect The federal Fair Credit Reporting act, or FCRA, guarantees every consumer the right to look at...

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Seven Smart Steps to a Cleaner Credit Report

The cleaner your credit report, the higher your credit rating, and the better your chances of getting financing. Several factors contribute to a bad credit report such as poor habits and credit report mistakes. But with a proactive attitude, you can clean up your report and improve your score. Check History Cleaning up your credit report and boosting a low score first involves checking the contents of your report. Order a copy of your report online from Annual Credit Report. Have a marker or ink pen nearby, so that you can make a notation...

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Credit Reports & Creditor Reporting Agencies

A few agencies collect information---lawfully---about your financial past and compile credit reports, any or all of which may play a large part in whether you may obtain credit because almost all lenders look at your credit history. Many companies may rate you as a credit risk, but only a few realistically matter. They all, however, report much of the same information, especially if you have missed any payments. About the Agencies In the United States, the major credit reporting agencies are Equifax, TransUnion and Experian. A fourth, Innovis,...

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How to Remove Negative Authorized User Credit Reports

Getting added as an authorized user on another person's credit card account is a useful way to build your credit history and increase your access to credit without any legal obligation to repay the debt. The account on which you are an authorized user appears both on the owner's credit report and your credit report. However, if the credit card owner misses payments or maxes out the credit line, this can damage your credit score. When the authorized user account is hurting you more than it is helping you, remove it from your credit report. Instructions...

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How to Figure Out FICO Score

Lenders use the FICO credit score to assess your credit risk. FICO stands for Fair, Isaac & Co., which markets the scoring system. A FICO score is between 300 and 850. Depending on the lender, a score of 680 to 700 and above is good while 620 to 580 or less is poor. You cannot calculate your FICO score precisely because the mathematical model is proprietary information and kept secret. But if you know the general structure of the FICO score (which is public knowledge) you can figure out scores well enough to identify problems and improve your...

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Why Having Someone Check Your Credit Scores too Often Is Bad

Companies check credit reports and credit scores in response to loan and credit card applications. Your scores and credit records indicate whether you are reliable or likely to default on the debt. Many things affect your score, including these inquiries. The MyFICO credit scoring company warns that "hard inquiries," which occur because of applications rather than credit self-checks or marketing pre-screenings, hurt your credit rating because they make you look like a risky borrower. Effects Companies check your credit rating by pulling...

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What Is a Slow Pay on a Credit Report?

A slow pay is when you pay on one of your credit accounts later than the due date. Payments reaching a certain number of days late will appear on your credit report. Significance Creditors will report your account as a slow pay when you are 30 or more days late. Payments made late but less than 30 days late can only be viewed internally by the creditor; they dont appear on your credit file. Considerations According to CreditCards.com,...

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How to Get a 780 Credit Score

There's no trick to getting a terrific credit score. Many people have lived most of their lives on credit and have paid it back when it was due. Those who have followed the rules are to be admired. Those who aspire to have 780 credit scores or higher should develop the same habits. Before long, they will see their credit score rise to levels to where they can secure all the credit they want or need. Instructions 1 Bank your paycheck and buy...

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How to Obtain a Credit Score From Experian

Lenders look at credit scores to help them decide whether you are a good candidate for a loan. Experian is one of the three major credit reporting agencies that produce credit scores. At Experians website you can obtain your credit score, examine your credit report and dispute any inaccuracies. The company also offers tips on improving your credit score. Instructions 1 Visit Experians website (see Resources). The site offers several products...

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What Is a Good Credit Report?

Your credit report serves as a record of past financial dealings that helps new creditors and lenders determine your eligibility for products and services. A good credit report benefits you by helping you qualify for low interest rates and credit cards with the greatest benefits. Other businesses that conduct credit checks, such as insurance companies, employers and landlords, will also view you more favorably if you carry a positive credit history. Credit Score Your credit score is a three-digit number that lets businesses quickly assess...

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How to Restore Your Credit

If you have endured financial difficulties in the past, your credit report and score may have sustained damage. A low credit score can result in your being turned down for loans or lines of credit. Even if you are approved, bad credit will prevent you from being eligible for low interest rates. Take steps now to restore your damaged credit in order to save money and provide for a secure financial future. Instructions 1 Pull your credit reports from all three credit bureaus, Experian, Equifax, and TransUnion and review them for errors....

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Does it Affect My Credit Score When a Credit Card Company Closes My Account?

When a credit card company closes your account, it can have a negative impact on your credit score. Fortunately, the decrease in your credit score may not be significant and, in most cases, is only temporary, according to Experian.com. Credit Utilization When a company closes a credit card due to inactivity, you will lose an account carrying a good "utilization ratio," which is your available credit versus the amount that you are using, explains Consumerist.com. Unfortunately, credit card companies may cancel your unused account. Old...

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What Do Banks Use to Check Credit Scores?

Before a bank allows a person to open an account or take out a loan, the bank will generally check the person's credit score. This is because whether the person is borrowing money or merely starting a check account, the bank can be placed in a position in which the individual owes it money. The bank can check the person's creditworthiness by providing information to credit reporting bureaus, which keep credit reports on most individuals. Credit Scores A person's credit score is a numerical indication of his creditworthiness. Banks, as well...

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How to Find Your Canadian Credit Score

A credit score is a three-digit number assigned to you which serves as a picture of your financial reliability. It gives lenders a way to quickly evaluate the risks of extending credit to you. The credit score is calculated based on criteria, such as the amount of outstanding debt, your payment history, the length of your credit history, the number of recent credit inquires and the types of credit accounts you have. Instructions 1 Visit one...

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