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Anyone who has bought a home or applied for a mortgage
knows this hard financial reality: What is in your credit report can cost
you thousands of dollars in extra loan charges or can save you thousands.
Whatever your financial status you hold, your credit report is the beginning
to any financial actions you plan to take. See how your credit will measure
up for a loan or credit before you apply.
A a
new study commissioned by the Consumer Federation of America found
that Americans are woefully ignorant about credit score even though
those three-digit numbers are the difference between getting approved
or being denied for everything from buying a car to buying a home
or renting an apartment. They
don't know what they measure, how they're used, and how to
raise them. The cost of not knowing your score and its significance could be
not only denial of credit but also difficulty obtaining needed services
and even a job. The higher a consumer's score, the more likely he
or she will qualify for a good interest rate on credit cards and
mortgages. Most consumers surveyed understood that lenders use credit scores,
but only a minority knew that electric utilities (30%), home insurers
(47%), and landlords (48%) often use credit scores to decide whether
to sell a service and at what price. Now that credit scores are increasingly used by utilities, insurers,
and employers, as well as creditors, it is essential for consumers
to learn their score and what it means. . |
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Equifax credit report | Experian credit report | Trans Union credit report | TRW credit report | |||||||||||||||||||||||||||||||||||||
