Is an Online Credit Report or a Mailed Credit Report Safer?

With Internet crime on the rise---the Federal Bureau of Investigation's Internet Crime Complaint Center reached the 2 million-complaint mark in 2010---consumers have legitimate reasons be concerned about the safety of pulling a credit report online. This fear, however, is unfounded. Except in a few rare cases, online credit reports are almost the safest way to receive one. Identification Online credit checks are the safest way to request a report, according to Experian, one of the major credit bureaus in the U.S. The major credit bureaus...

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What Is an Experian Plus Score?

When you apply for a loan, credit card or other form of credit, the lender invariably "runs your credit." What the lender finds out helps determine whether to approve your application and, if approved, what terms, such as interest rate, will apply to your account. The Experian Plus Score is one of several credit scores that lenders can use to aid their decision. Types Largely because there are so many different types of them, credit scores...

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How to Improve Credit Score Due to Identity Theft

Identity theft can drastically harm your credit score. A near-perfect 800 score can fall into the 500s very easily thanks to identity theft. You can take action if your identity has been stolen. While the best solution is to guard your identity so that you will not have to resort to these methods, you can improve your credit after identity theft. Instructions 1 Notify Equifax, Experian andTransUnion (the three major credit bureaus) of the...

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Free Yearly Credit Rating

A credit report is an official record of an individual's credit history. These reports include information on a person's mortgage loans, credit cards, automotive payments and student debt, as well as negative financial history such as foreclosures, bankruptcies and accounts in collections. The three major credit bureaus -- TransUnion, Experian and Equifax -- use the data on a person's credit report to determine her "credit rating," a three-digit number which helps lenders decide a person's creditworthiness. Federal law entitles all U.S. residents...

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The Importance of a Credit Rating

A credit rating is a measure of how much of a risk it would be to lend money to a person, business of other entity. Your credit rating directly affects your ability to borrow money. In addition, it may be used to determine your reliability as an employee or tenant. Credit Scores For individuals, your credit rating is summed up in a credit score, or FICO score. Scores range from 300 to 850; the better the credit rating, the higher the score. Interest Rates The better your credit rating, the lower the interest rate you're likely to...

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If You Pay Off the Debt Collectors, Will Your Credit Score Go Up?

Debt collectors can make life miserable for people who owe old bills. The Fair Debt Collection Practices Act forbids them from certain tactics, like making false threats or using obscene language, but they can verbally apply pressure. Collection accounts also lower a consumer's credit score, making it hard to get new credit at competitive interest rates. Paying off collection accounts raises the score under certain circumstances. Definition Every person who uses credit has a credit score from FICO and the three credit reporting agencies....

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How Long Should Delinquent Credit Stay on a Credit Report?

The Basics A credit report is an official record of all your credit-related actions over a specific period of time. On your credit report is a list of checking and savings accounts, credit cards, loans, and other things of this nature. Also reported on your credit report is any delinquent credit you may have. Your credit report is used by lenders to determine whether or not they want to give you new lines of credit, and the information contained...

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How to Fix Credit & Negotiate With Creditors to Improve Your FICO Score

Your FICO score is what lenders and creditors look at when deciding whether or not to lend you money or extend additional credit. The higher your FICO score, the better your chances for getting additional credit. You can increase your FICO score by keeping track of your credit, fixing credit errors and negotiating with creditors to remove the error and improve your FICO score. Although the process is not difficult to do, it does take time, organization...

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How to Manage My Credit Score

Your credit score affects your ability to secure an auto loan or mortgage and may even interfere with securing a job. According to MSN Money, as of 2010 more than 30 million people in the United States had credit score issues making it difficult to get loans with reasonable interest rates. Take a few steps to manage your own credit score and boost your rating to avoid these issues. Instructions 1 Order a credit report. According to the Federal Trade Commission (FTC), as a consumer you are entitled to a free credit report once every 12 months...

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How to Find Interest Rates Based on Your Credit Score

Your credit score describes your credit risk, and lenders ranging from car loan lenders to credit card companies check your credit score before offering you a line of credit or a loan. A higher credit score means you're a lower risk, and you can receive a higher credit limit and lower interest rates. The three main credit bureaus---Equifax, TransUnion and Experian---use slightly different criteria, and most lenders do not offer a precise credit score...

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What Is a Credit Profile?

A credit profile is complete listing of all your credit information. Your credit profile starts when you first apply for credit. When a creditor approves you for credit, it updates the credit reporting agencies regarding your credit account. Significance Your credit profile will include all of the creditors that you have credit with. There will be a record of how you pay them, as well as the balances and credit rating. Identification Your credit profile will have information that identifies you, such as your name, Social Security...

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How to Find Out When Specific Items Are Due to Drop Off My Credit Report

Your credit report is a reflection of your payment history, so make sure it represents an accurate picture. Creditors often incorrectly report delinquent accounts, which can make the date your negative payment history drops off your credit report incorrect as well. In mere minutes, you can find out when delinquencies will drop off your credit reports. Instructions 1 Get your most current credit report through AnnualCreditReport.com, the official...

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How to Understand Credit Report Codes

It's good to get your credit reports regularly. You can check for errors and see areas where your credit rating could be improved, but you need to understand your credit report and the codes. There are three credit reporting bureaus: Experian, Equifax and TransUnion. The general format for each credit report is similar, but the credit codes and scoring methods are different. Understanding your credit report codes will enable you to monitor change...

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Do Secured Credit Cards Improve My Credit Score?

People who have low credit scores may pursue a number of strategies to rebuild their score. Many of those with poor credit scores cannot obtain a regular credit card, because they are considered a high credit risk and are more likely to default on payments. However, these people may be eligible for a secured credit card. Used properly, this card can help the person's credit score improve. Credit Reports A person's credit score is derived from all the credit-related activity documented by credit reporting agencies and published in their...

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Does a Credit Check Affect Credit Score?

A credit score can move up or down based on a number of factors. For instance, a late payment or sharp increase in a credit card balance could cause the score to decline. Reducing debt balances or correcting incorrect data could cause an increase. Many consumers also wonder how a simple credit check, whether by a creditor or themselves, might affect their credit score. Understanding a Credit Score A credit score is like a grade in school, only instead of grading you on your performance in a class, it is based on how you manage your finances....

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Things That Affect Your Credit Rating

Your credit rating, more commonly referred to as your credit score, is derived from a formula created by the Fair Isaac Corporation or FICO. Your FICO score falls somewhere in the range of 300 to 850 and is comprised of a rated formula that takes several factors into account simultaneously -- each weighted differently. Payment History Your payment history on your credit accounts -- credit cards, loans and mortgages -- makes up about 35 percent of your credit rating. Late payments on accounts are reported to the credit bureaus (TransUnion,...

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Security Clearance and My Credit History

There are different levels of security clearances that allow people access to confidential government or military information. Getting a clearance is often a long process that includes a credit check. Because of varied circumstances, it's difficult to determine how people's credit histories affect their chances for receiving security clearances. Effects The Institute for Intergovernmental Research (IIR) is a nonprofit organization in the United States that focuses on law enforcement and homeland security issues. An IIR document on FBI security...

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How to Understand Equifax Beacon Credit Scores

FICO 08 is a formula used to help the Fair Isaac Corporation calculate your credit score. FICO 08 looks at your payment history, the amount you owe, the length of your credit history, any new credit you have, and the types of credit youve used. Compiling all this information, the Fair Isaac Corporation is able to calculate your FICO 08 credit score. The credit monitoring company Equifax can provide you with your Beacon credit score. Once you understand...

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Do Cell Phone Bills Affect Your Credit?

Your credit report is a document that details your history with various forms of credit. Any time you incur a debt or pay a bill, even for your cell phone, this information can go on your credit report. If you fail to pay your cell phone bills on time or default on your phone agreement, this will negatively impact your credit report. Credit Report All consumers who use any form of credit have a credit report that details how that consumer...

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Financial Help for People With Poor Credit

Bad credit scores can be financially daunting, as they affect many areas of life, from the ability to get a fair loan rate to the ability to find housing or even a job. Sadly, unscrupulous companies often capitalize on those with poor credit. If you are struggling with bad credit, learn what help is available, and which programs you should avoid. Personal Loans Personal loans may be available if you have a lower-than-average credit score, but be careful. People with bad credit are preyed upon by lenders who recognize an opportunity to charge...

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What Is the Declaration of a Credit Report?

Many people believe that credit reports set your credit score or determine whether or not you can get a loan. However, while credit reports are used to make these determinations, it is not what a credit report declares. Credit reports are a listing of your credit history, including accounts, credit limits, overdue amounts and other information relating to your use of credit. What Reporting Agencies Do Credit reporting agencies aren't in the business to make a determination of credit worthiness. They are information gatherers. They collect...

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Can My I Fix My Credit Myself After Filing for Bankruptcy?

After filing bankruptcy, you can fix your credit yourself and get approved for new credit at a lower rate. Some people resort to hiring credit repair companies after a bankruptcy. But instead of paying a monthly fee to help restore your credit, learn ways to improve a low score on your own. Retain Older Accounts People filing bankruptcy don't have to include all their outstanding debts in the case. Some choose to retain auto loans and mortgage loans, wherein they agree to satisfy these debts as agreed. Keeping one or more of your existing...

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What Information Do I Need to Run My Credit for a Home Loan?

Running a credit check on yourself is not always simple because you may need information that you have lost, forgotten or do not know. Most people, however, probably already know the information needed to run a personal credit check off the top of their head. If you do this to prepare for a home loan, watch out for more than just your listed accounts. Identification Obtaining a free credit report via Annual Credit Report--the central website...

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How To Repair Or Remove Credit Report History

A credit report tracks an individual's history of paying debt obligations. Late payments, high credit card balances and inaccurate information could be dragging down your credit score. Over 30 million people in the United States struggle with credit issues that make securing financing difficult, according to MSN Money. Repairing or removing poor credit history can help boost your credit score. Instructions 1 Review your credit report. According to the Federal Trade Commission (FTC), consumers are entitled to a free credit report from each...

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Getting Stuff Off Your Credit Report When it Is Paid Off

Your credit report is becoming increasingly important for things such as car loans, health insurance rates and landing a job. If you are trying to pay off credit card debt and delinquent collections, it will not always come off your credit report. To try and get items completely removed, you will need to go through a number of key steps. Checking Credit Reports Get a free copy of your credit report from Experian, Transunion and Equifax through...

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Does It Hurt My Credit if I Make Deals With Creditors?

Making a deal with your creditors may damage your credit rating, but this probably is less harmful than keeping the status quo if you cannot meet your monthly debt payments. The only way to be sure that a deal with a creditor has no effect on your credit rating is pay the bill in full when due. Identification Whether a deal with a creditor can affect your credit rating depends on whether the deal results in you paying less than the monthly payment. A lender reporting anything less than "pays as agreed" results in a drop of 125 points or...

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What Hurts Your Credit Score?

Knowing the factors that hurt your credit score can put you on the path to a better credit rating. Low scores often result in credit rejections and higher interest rates on loans. In addition, some insurance companies increase premiums if you have a low credit score. You can educate yourself on factors that influence credit scoring, and you can take steps to maintain a good rating. Bad Payment History A bad payment history results if you make payments late or miss monthly payments to bill collectors and creditors. Because payment history...

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How to Fix Bad Credit Quickly

There are some things you can do today to fix bad credit. These methods will raise your score a bit, but if you want to see real results and greatly increase your score, it will take a bit more effort and time. Instructions 1 You will need to access your credit report. You can find many resources online that will provide your credit file for free, and you can't effectively fix bad credit without having this information. 2 Take a look at your current credit cards and figure out what your debt ratio is. This is your balance as it relates...

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How Long Does it Take to Renew Your Credit Score?

Your credit score will drop within a relatively short period of time if you stop making payments on your credit cards and loans. Unfortunately, the process for renewing your credit score can take much longer. There are ways you can make immediate improvements, but it generally takes years to restore your credit score completely. The process takes a combination of making payments on time and waiting for negative items to drop off after a certain number...

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Five Steps to Eliminating Credit Card Debt

In April 2009, President Obama reported that 78 percent of American families held at least one credit card, and 44 percent of them carried a balance on it. Of those who had credit card debt, the average balance was $7,300. If you're struggling with such debt, several steps and strategies can help you to start eliminating the debt to free up your finances. Stop Using Your Cards When you're trying to pay down your credit card debt, don't continue...

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Credit Check Tips

A credit score is used by a lender and certain other service providers to assess the credit risk associated with an individual. Generally, the higher the score, the lower the risk associated with the individual. The score is derived from a complex mathematical formula that evaluates information on a credit file. Your credit score is checked by lenders, insurance companies, some employers and leasing companies before making a decision on a credit request, employment or lease application. Credit Reports and Monitoring Visit the websites of...

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Does Having a Home Increase My Credit Score?

Owning your own home is part of the American dream and a laudatory accomplishment, but probably does little for your credit history. Having your own home might not matter to credit scoring models at all unless you took out a mortgage. If you do have a mortgage, rushing to pay it off is unnecessary and probably an unwise use of money. Identification Having a home has zero effect on your credit score if you owe no money on it, such as when you pay cash. The credit bureaus do not factor in assets when calculating credit risk, because credit...

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What Is the Best Way to Get a Credit Rating?

There's no law that requires adults to maintain a credit rating. However, anyone who plans on financing a car or buying a home ought to consider the importance of having good credit and take steps to develop a credit history. Several tactics are available to help you get a credit rating. And numerous lenders and banks are prepared to help you along the way. Instructions 1 Request credit from a department store or gas station to begin establishing...

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