Get Your Credit Report
posted on April 16, 2008 4:45 PM in Debt, Payday | Permalink
Four factors help a lender determine if it will lend you money and under what terms:
1. Your credit score
2. Your employment history
3. How much debt you have compared with how much income you have
4. Your credit history
You can order a free credit report from all three bureaus every 12 months at www.annualcreditreport.com or toll-free at 877-322-8228.
If you go online to view them, you'll have to know certain information contained in them - each credit bureau asks for different information to ensure your identity. Information includes things like the name of your mortgage company, if you have one, and former street addresses. Don't worry if you get an answer wrong. You'll be given a second shot at it.
$ Tip! To get the best interest rate when applying for a loan, first determine which credit bureau has the highest FICO score for you. Next, find a lender that uses that credit bureau report.
What would you do?
Mary is offered 10 percent off all sale items if she opens a new department store credit card. She figures it'll knock off $10 from her bill, not a bad savings. Every dollar counts when you're shopping for a new car, she figures. Don't do it, Mary! Every inquiry for new credit makes creditors/lenders uneasy, and opening a new credit card account will reduce your credit score!
