Did you know that a credit report gives lenders details about every loan you’ve taken out in the last six years, including credit cards, car loans, lines of credit and mortgages. It shows how much you borrowed, whether you paid on time, and what you still owe. Based on all this, you’re given a credit score from 300 (the lowest) to 900 (a perfect score).
In this day and age you need credit unless you decide you can pay for everything by cash and it's a little hard to buy a house like that. Sometimes mistakes happen with your credit report and it isn't correct. We had something on there that had been paid off for a long time but it was still showing up. Not good. Luckily it is all taken care of now, the agencies work with you to correct it. I never would have known if it wasn't for me checking.
You can even check your free credit score online and make sure everything is correct. Remember a low score isn’t the end of the world, but it can take years to bring your score up by improving your report. To do this you need to pay your bills on time and in full . . . all the time. You can't fix it if you don't know.
This post was brought to you by freescore.com All thoughts and opinions are my own.
