Credit Report

[FieryDragon]

Hey everyone! I'm new to the whole credit check thing and was wandering if any of you Veterans out there could help me out? I've heard a bit about Free credit reports online. Is this a hoax or is it really true? Do I have to give out my credit card number and things like? I don't want to make any mistakes here that will affect me for the rest of my life.

So, could you guys and gals help a NEWBIE out?

[Sirex]

Over here there is 3 main keepers of things like 'views of you' from creditors, Equifax, EXpian and 1 more ONLY ever sign up to one you know is one of these things.

Credit reports are a myth in reality, all these companies hold is opinions on you and stuff like if you'vve ever defaulted, missed payments.
They never store how much debt you have etc.

I mean i'm in debt, and i still score high, why? because i've never defaulted, missed a payment etc.

Each company scores differently its all based on how much money you will make them not how bad you are at keeping credit.

So dont worry about your credit report, as long as you never miss payments or default etc.

Tip for you, if you are EVER going to miss a payment, contact the creditor, let them know a week or two before its due, they will record this and not hold it against you as long as you pay them when you say you will.

Also dont borrow more than you can afford to pay back is a good key.

If you owe ?100 never borrow ?110, it makes it worse even if the rate is lower etc.

If you do end up in debt (i prey you dont) or you just want to clear credit, this is what i did.

I made up a list of my credits, my income, and what i spend, and divided up the extra pro-rata to the creditors, they are happy they get paid, i'm happy cos i have extra every month, and best of all I got no intrest charges due to our agreements.


But anyway, forget about credit reports, there is no magic book of who not to lend to.

[mapes]

Hey by law in the US the three major credit reporting companies must give you a free report every year. I belive the website is https://www.annualcreditreport.com/cra/index.jsp

It covers experion, equafax and transunion

You can have the report mailed to you or opened from the website. Note you must create a user account for each of em.

[baconoclock]

Hey by law in the US the three major credit reporting companies must give you a free report every year. I belive the website is https://www.annualcreditreport.com/cra/index.jsp

It covers experion, equafax and transunion

You can have the report mailed to you or opened from the website. Note you must create a user account for each of em.

Yep, i pulled my equifax report already this year. And you can view it online (and print it from work like i did :D )

EDIT: I dont believe they give you your FICO score, thats extra.

[mapes]

Credit reports are a myth in reality, all these companies hold is opinions on you and stuff like if you'vve ever defaulted, missed payments.
They never store how much debt you have etc.



Here in the states than do report on outstanding obligations i.e debt.

[Sirex]

I know over here they dont, cos everytime someone queries a DB on me, i dont hear loud sirens going off lmao

Not that i'm that bad, lets just say I'm glad i had my credit when i did, it was well needed.
Now i got it all frozen and paying up on my terms and its not counting against me lol

[L_Mo]

I actually have bought into one of the credit reports, which gives a quarterly credit report (based on Equifax records). It gives me the credit score, plus an overview of my credit card, student and car loans, which includes the amount of the loans (available balance on credit cards). It tells you the positive and negative things about your credit that affect your score. It also provides a score estimator for future planning... I used it when I was considering buying a car - I wanted to see what opening a new loan would do to my score.

I'll admit, the above features are probably not that big of a deal. It does let me keep an eye on my credit, which is nice. The biggest reason I do this is peace of mind as far as credit scamming. I got an e-mail the day after I bought my car saying a new loan was opened on my credit.

All in all, if you pay your bills you'll do fine. I'm just a curious person, so I like to know what's going on...

[FieryDragon]

thanks guys. this helps alot. i will be able to take care of it tomorrow! thanks again.

[mapes]

I actually have bought into one of the credit reports,

How much do you pay? Because by law here in the US your only liable for the first 50.00 USD of any fraudulent charge. So if your paying over 50.00 bucks....stop paying them.

[WhIsKyTaNgO1]

Like Bacon says, the report is free, you want it scored, its gonna cost ya

[L_Mo]

The one I get is $5/month, but to me it is worth it to track how my score changes and be warned immediately if something changes.