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.
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.
Delinquencies on your accounts.
A delinquency is a payment that was made 30 or more days late. None or very few delinquencies on your account can cause your score to improve.
What You Can Do
Keep paying bills on time every month since it is important for maintaining a good credit score. If you remain behind with any payments, bring them current as soon as possible, and then make future payments on time. Over time, this will have a positive impact on your score. Continue reading Positive Score Factors
Your credit report and score can influence the type of home you can afford in different ways. It influences the interest rate of your mortgage, the total amount of money you are qualified to borrow, the lending terms of your mortgage agreement. It is recommended that you check your credit score and report at least three months prior to applying for a home loan. Buying a home is the biggest investment in most people’s lifetime. So, take the time to do your homework, ensure that your credit score is based on accurate credit report information, in order to find a home that fits your budget.
Your VantageScore® and grade is based primarily on a 24-month review of your credit report. Your credit report has information – such as your history of payment punctuality, the total amount of your available credit, the total amount and type of debt you have, the number of open and active accounts, and the longevity of your relationships with creditors.