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Is Your Credit Score Being Held Against You?
Credit Scores That Hurt
Is your credit score being held against you?
More and more the staples of life depend on your credit score.
Your mortgage, insurance premiums, employment opportunities and
even your landlord may be using your credit score to determine
your financial future.
In some cases even the utility companies are basing the size
of your deposit on your credit score. Landlords are determining
your reliability as a tenant. Insurance companies are setting the
size of your premiums based on your credit score. Many more
employers are also using your score to determine your
reliability.
According to a 2004 survey by the U.S. Public Interest
Research Group, 25% of credit reports which list your credit and
borrowing activities, had errors serious enough to to cause a
consumer to be turned down for a loan or job.
To counteract the erronius information on your credit score
you should review your FICO scores at least once a year, or
several months before applying for a loan. Check for negative
info, errors or any suspicious activity that may suggest identity
theft. The best place to check is myfico.com. The three major
credit bureaus will also sell you your credit reports, but
they're not as reliable because none of them provide your FICO
scores with your credit report.
The best strategy to stay on top of your credit information is
to pay the extra money to get your FICO scores. Also apply for
your free credit report from one of the three credit bureaus
every few months. Moniter any new activity.
Cornelius P Crumpacker
101 ways to improve your credit score
http://www.usacreditinfo.com
MORE RESOURCES:
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