CREDIT! It's a six letter word that makes some people cringe. Whether we like it or not, it is a part of our vocabulary and our lives, affecting what can buy, what we can afford, even jobs we can get. It is important to keep a handle on your credit and know what is on your credit report. Credit reports gather information about you from places like bankers and creditors and sell that info to places like banks. Basically, it is recorded history of how you pay what you owe such as bank loans, student loans, credit cards etc. It also includes your SS#, any past and current addresses you may have lived and any additional information the credit agency may have come across, including bankruptcies, judgment, & liens.
Being that many places who check your credit rely heavily on credit reports and what credit reporting agencies provide, it is important to keep up with what is on your credit, paying what you owe, and making sure the information on your reports are accurate. The top three credit reporting agencies are:
Trans Union: www.transunion.com
If you didn't know, you are entitled by law to request a free credit report from each agency every 12 month cycle. It is best to check all three at the same time. It is important to look over the report and if you find any discrepancies, dispute them immediately. To find out and get detailed information on how to obtain your free credit report, go to www.annualcreditreport.com If you have any problems on your credit, be sure to contact the appropriate credit agencies to dispute the problem.