Know your credit report

Credit report

Your credit report from the 3 US credit reporting agencies, Equifax, Experian and TransUnion, are available for you to view for free annually at AnnualCreditReport.com. Access your report and check for errors and fraudulent accounts. This report doesn’t include your credit score.

Errors

If any discrepancies are noticed, contact the credit reporting agencies and the bank or the credit card company reporting the unauthorized or wrong information and immediately report any issues. They’re required to investigate. It is important that you keep a log and copies of your correspondence.

Your credit score

Credit card companies display your credit score for free in your account. It is recommended that you check it on a regular basis. Paying bills on time and reducing debt can help improve your credit score.

How Often is My Credit Report Updated?

Credit reporting agencies typically update the information monthly. However, each of your credit account information change more often depending on due dates and payment cycles for each account. Additionally, large credit card companies have millions of accounts and they report portion of them at different times, for easier management of large data. Other information, such as bankruptcies and hard and soft inquiries are also reported within days, weeks or months from their occurrence. Thus, you will see changes in your credit reporting account all the time.

Conventional Loans

Conventional loans are not associated, insured or guaranteed by VA, FHA or USDA. A minimum of 5%, or 3% in some cases, of the purchase price must be paid as down payment. Additionally, private mortgage insurance must be paid, if the down payment is less than 20%.

DYK: If you pay 20% or more of home purchase price as down payment, you are not required to pay the private mortgage insurance

What makes or breaks a successful small business?

Starting and running a new business is challenging and requires hard work. Many new businesses make no profit or close their doors within their first 2 years. However, hard work, dedication, perseverance and good business practices will pay in the long run. As a new business owner, budgeting, preparing a simple business operating plan and setting goals will help running your business and will motivate you.

In addition, there are few more things that small business owners do to make their business successful, four of which are provided by GrowBiz Media. Read the entire article at: score.org

What successful entrepreneurs do right

  • They start strong
  • They focus on finding new customers
  • They put cash back into the business
  • They work hard

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