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Make Sure Your Credit Report Is Correct to Improve Your
Interest Rates And Lower Insurance Premiums
Did you know that you could make sure to get the best rates on
your auto and homeowners insurance simply by having a good credit
score.
Additionally a great credit score will allow you to get the
best interest rates on your credit cards, car loans and even your
home mortgage. With interest rates as low and as favorable as
they current are why shouldn't you take advantage of them?
What to do - Probably the most important first step you can
take would be to order your credit report in order to view its
accuracy and check for any glaring errors that could cause you
problems or lower your credit score. A good credit score
generally speaking is above 750.
There are 3 companies that offer credit reports. TransUnion,
Equifax and Experian. There is a slight cost however a new law
allows consumers the right to one free credit report every year.
As of this writing only consumers on the West Coast can enjoy
this benefit. Mid-west states can start receiving their free
credit reports around the 1st of March 2005. For those of you
that live in the South expect to be able to order your free
report starting 1 June 2005 and if you're on the East Coast
you'll unfortunately have to wait until the beginning of
September 2005 in order to claim your free report.
Please don't take this lightly - your credit score is very
important to your financial success in life. Even if you have
managed to avoid making late payments or over drawing on your
current credit limits you can still be in harms way. Recent
reports have suggested that almost 79% of credit reports contain
an error of some kind. The really bad news is that 25% of these
errors are harmful enough to where they could cause some serious
issues in your attempts to receive credit, better rates and lower
your insurance premiums.
Additional recommendations include the obvious such as
continuing to make payments on time combined with an outstanding
long-term credit history and low credit usage. You can use this
to your advantage by keeping your oldest credit cards debt free.
Also ask for credit limit increase every once in a while. However
make every attempt to avoid signing up for new credit cards or
other forms of credit unless absolutely necessary.
If you do find out that your credit report does indeed contain
errors promptly contact the credit bureau that issued you the
credit and dispute the errors. If the bureau is unable to verify
that the errors are indeed correct within a 30-day time frame
they must remove the erroneous information from your report.
Taking the simple precaution of verifying your credit score
could result in a substantial deduction on all of your insurance
premiums and could significantly improve your rates for a new
home or car loan. Timothy Gorman is a successful webmaster and
publisher of Military-Loans-Online.com. He provides more free
financial and
home equity loan information that you can research in your
pajamas on his websiteOther websites operated by Tim
Cellular-Phone-Solutions.com - Free information and resources
regarding cell phones and cell phone
plans.
Best-Free-Insurance-Quotes.com - Offers discount auto, life
and home
insurance
MORE RESOURCES:
Credit - Google News
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