Understanding Your Credit Report
The most important subject that should be taught in high school is how money works, the lack of a
true focus on this subject has left most Americans fending for themselves. Understanding credit, credit reporting
and credit scores is the backbone to developing a solid financial foundation yet we find day after day the
average American makes serious mistakes because of the lack of knowledge concerning credit.
How To Get Credit Report With Credit Scores
FICO scores, developed by Fair Isaac Corp., are the predominant credit measure used by the mortgage industry. The
scores run from 300 to 850 and are used to predict a borrower's likelihood of future nonpayment, with higher scores
indicative of better creditworthiness.
Other commercial scoring models, which also may accurately predict risk of nonpayment and gauge a consumer's credit
health and behavior, are widely available on the Internet. But they are rarely used by mortgage lenders and
therefore have limited relevance for a home mortgage application. Lenders use FICO scores to price mortgages.
MyFico is one of the best websites to get information on everything you would want to know about
credit reports. They also have great features included when purchasing from MyFico such as FICO scores from the
three national credit bureaus, credit reports from the three national credit bureaus and FICO Score
Simulator. This simulator analyzes your personal credit information and answers questions. MyFico also has a
very affordable monthly service that will e-mail you as soon as any changes occur on your credit report. This
service is a must for someone who never whats to be kept in the dark about their credit report.
Get All 3 FICO Scores and Credit Reports!
Tried of getting unsolicted mail for Credit Cards!
You have the right to opt out!
Most people don't know that all 3 credit reporting
agencies sell your information to marketing companies so they can mail you those annoying pre-approved
applications. The truth is you have not been pre-approved it is sales tactic used by a marketing firm that
has the right to send you letters on behalf of a large bank
The marketing firm went to a credit reporting company and
rented names of people in a certain area and with a credit score in a certain range. They never see your credit
report nor do they see the list. The mailer goes out on behalf of the marketing company from the reporting agency.
The marketer makes money after you have filled out the application mail it in and are approved by the bank. The
problem for most unsuspecting Americans is that they think they are approved already so they mail in the
application only to be denied and lower they credit score every time they fill one out.
1-888-567-8688 the consumer credit reporting industry opt-in and opt-out number to remove you from the
ist. You wi
iminate 90% of junk mail
Learn How To Get A Free Credit Report
You do have a right to obtain a free credit report from each credit bureau once a year but these
companies are not obligated to give you your credit scores with the report. The only way to get a report with the
scores is to pay for it but be careful there are companies that have their scoring system that is not used by most
Fight identity theft by monitoring and reviewing your credit report. You may request your free credit
report online, by phone or through the mail once per year. Free credit reports requested online are viewable
immediately upon authentication of identity. Free credit reports requested by phone or mail will be processed
within 15 days of receiving your request.
Free Credit Report