Free Credit Score Online
There are several ways to obtain a Free Credit Report Online, and I’m going to give them to you right here. You can contact the following sources directly by visiting;
- Experian http://www.experian.com/
- TransUnion http://www.transunion.com/
- Equifax http://www.equifax.com/
There is also another website for getting a free credit report online with the additional advantage that they will monitor your credit and future credit inquiries. They will email you about any new developments to your credit score.
You can check it at Credit Karma.
One of the biggest credit misconceptions is that checking your credit score will hurt your credit score.
This is not the case. You can check your credit scores at Credit Karma as often as you like without affecting your credit score.
What to do Next
You will need to view all these sources to make sure they are scoring you all the same, and once you have your credit report(s), then we can get to work on improving your credit score. You should also research as much information as you can about debt management.
Having the best credit score, you possibly can is important because your Credit score will affect your mortgage rates, credit card approvals, apartment rental requests, and even job applications.
Also reviewing your credit reports regularly helps you to catch potential problems, before they get out of hand, such as detecting identity theft, which can devastate your credit rating.
Knowing what to look for will also help prevent future, long-term credit related problems and understanding how your credit score is calculated another important step towards improving your credit rating.
As you can see; it’s your payment history and the amount you owe that makes up 65% of your score. This, together with how long you have had any credit, makes up 80% of your FICO score.
These are the major components that go towards calculating your overall credit score and these have all taken ‘time‘ to acquire and compile.
Most People Have a Poor Score
What may surprise you is that most Americans have ‘Poor to Fair’ scores, and many are also up to their ears in debt.
The chances are that you also have a poor credit score, and you’re looking for ways to improve your score.
In fact, it’s quite easy to improve your credit score on your own, and you can do it for free, it only takes some dedication, a little knowledge, and some will-power.
I have had my share of experiences with having bad credit, from not paying my bills on time. Having bad credit means having to endure higher interest rates and lots of harder work to reduce your debts due to harsher terms and longer payment plans that you get stuck with.
Wait – Didn’t I just say that improving a bad credit score was easy? Why did I just say it was hard for me?
Well… because for me, it was hard because, I owed millions of dollars and had filed for bankruptcy. I initially thought it would be really tough to improve my credit rating, increase my credit score, so I could reduce my interest payments to a more acceptable level.
I was searching for someone to help me with my problems, I went through a lot of agencies and service providers, I tried many different techniques, to improve my credit score. I read a lot of books and tested many strategies and during my search for a solution, I discovered something interesting…
It turns out, it all came down to me. I was the solution.
I figured out that there are a few simple but concrete steps that almost anyone can make, to improve their credit score – by at least 100 points, in a few short months, possibly even in a few weeks.
These are simple steps, and I wished someone told me about them earlier before I spent all my time and a lot of money on other courses and products which only lead to frustration and further debt.
Since you’re reading this post, there’s a good chance that you’re looking for ways to improve your credit score as well.
There’s no need for third-party services or accountants; it’s all in your hands… and it’s quite simple.
I outline the steps and provide the information you need to improve your credit rating in my book. In this book is what I wished I found when I was suffering from poor credit. I say suffering because of having a poor credit score is like suffering needlessly with poor health when the cure is only a course of antibiotics and a little time. – If only you knew!
It’s the exact information that I needed to know, to not only improve my credit score but this information has allowed me to maintain a high score, ever since.
I will always have a great credit score now that I found out how to efficiently manage my score – and I’ll show you how you can do the same.
See the Video below for more information:
|How to Improve Your Credit Score|
Why Should You Fix Your Credit Score?
Most people don’t pay that much attention to their credit score and end up encountering problems that could have been solved earlier if they had monitored their credit on a regular basis (such as using Credit Karma).
They find out too late!
So, if you’re wondering if it’s necessary to fix your credit score, here are some reasons:
- Banks will not lend to people with bad credit; this means you might not be able to get a loan for college or any other bills.
- Interest rates are higher for people with poor credit.
- It is much harder to acquire a mortgage with poor credit.
- You will have a hard time getting a credit card.
- Some landlords will check your credit score and may refuse to rent to people with poor credit or a history of late payments.
- Cell phone contracts will be difficult to obtain.
- Insurance will be more expensive.
- Buying a car will be a hassle.
- Getting a job will be difficult as employers want responsible employees.
- And much more.
Essentially, a poor credit score makes your life much more difficult, so it’s important to obtain the highest score possible.
In This Book…
In this book, I’ll show you how to read your credit report and take up any issues with your credit agency, because a lot of agencies make mistakes on their reports that are not good for your credit score.
You can then follow up with these companies and make them amend adverse issues in your credit report, and I explain how to do just that in this book.
I’ll also make it easy for you to understand how credit score works and how different companies calculate the score because some companies assign a positive score to some things and other companies assign a negative rating, every credit company calculates scores differently.
Once you have a copy of your credit reports you begin the process by ‘Disputing Errors‘ and playing it smart. Now remember before you contend any error, there are two points you should consider:
1. Does this error negatively affect my credit rating?
2. Do I have documentation to back up my objection?
If the answer to question one is No. Then no action is required. Sometimes credit errors can improve your credit rating, so be selective about what you want to correct.
If the answer to number two is No. Make sure you have documentation to support your claim before you seriously consider making a complaint or going about correcting the error because you need to prove your assertion, remember that even though it a credit report about you, it is NOT your credit report.
Making Effective Choices
These are discussed in greater detail in the book, but the most commonly found errors on a credit report are for a ‘late-payments.’ Many times payments on loans are reported as being paid late when in fact you were never late paying them. So it’s important to check these carefully.
Whenever you are dealing with ‘late-payments‘, it’s important to remember that the older it is, the less damage it has on your current credit score. So target the most recent ‘late payments’ first.
Before you contact the credit agency, contact the creditor. Sometimes if the payment was late because of the mail or a banking error, they might agree to forgive an isolated incidence of a late payment.
If you have made some ‘late-payments’ and your report looks bad as a result, a way to fix this (if it’s possible for you) is to consider offering the creditor payment of the full balance of the loan in exchange for deleting the entire record of ‘late-payments.’
This usually works, as the creditor gets the full amount due, early and you get the advantage of losing the record of ‘late-payments’ on your credit report. Most of the time creditors are far more concerned with repayment than messing up your credit history (Unless your creditor is a bank, they won’t care).
Another thing is that there are two kinds of inquiries that occur on your credit report. These are either a hard or soft inquiries. While both types of inquiries enable a third party to view your credit report, only hard inquiries can negatively affect your credit score. It’s in your interests to know the difference between the two.
Much more is covered in the book, but here’s another idea you might like to know about…
Rebuilding your Credit
We will now look at just one of several ways to get a good credit score, even if you start from nothing. You can build your credit rating by having what is commonly known as an ‘available’ credit limit. This is an unsecured debt in your name (for example, credit cards and store cards, in particular, are a good way to do this).
What is an Unsecured Debt?
Unsecured debt is easy to remember, just think of any loan you have that is ‘unsecured’ By this, I mean things like your mortgage or a car you have a loan on is ‘secured‘ because the asset is the security for the loan. Everything else is unsecured.
“You may need to look at your credit report to see how many credit cards you have and exactly how much credit is on those credit cards”.
But in truth, this makes you less attractive to a credit company or a lender than someone that has two credit cards totaling $20,000 of ‘available‘ credit.
You need to build up your ‘available credit’ to improve your credit score.
Sounds crazy right? You might ask?
“How can having access to more debt improve your credit score?
Here’s the Secret
A significant contribution to a good credit rating is your ‘debt-to-credit ratio’. This allows future credit lenders to see exactly how much you have borrowed in the past and how much interest you paid each time.
(a) Should lend to you and (b) How much they should lend you.
Your debt-to-credit ratio is calculated in percentages.
For example, if your debt-to-credit ratio is 50%; this means you have only borrowed and then paid back up to half of what your credit limit was. [Which is Good]
If you have an 80% debt-to-credit ratio, this means you have borrowed 20% less than what you have as your credit limit. [Which is not so Good]
Ideally, you need this ratio to be around 10–30% at any given time [Which is Great]
Also, there are a lot of little factors that can impact your credit score. These factors are little known, and most people don’t know about them… actually, most of them don’t seem fair at all. Regardless, I’ll show you that a lot of these small changes can add up and soon you’ll have a better credit score.
For example, another little factor that people don’t know affects your credit is your ZIP code and your gender. Obviously, it’s impossible to change your gender, but it is possible to change your ZIP code.
… More about this, and much more in the book
Also, you can get more Debt / Credit tips and ideas from here
|Debt Management Ideas|
“Remember, it’s also important to always pay bills on time so don’t sign-up for any payment plans that you’re not 100% sure that you can pay back within the required time-frame!
So, if you’re interested in learning about some hacks and quick solutions to improving your credit score, then all you have to do is grab a copy of this book.
It will make a big difference, and you’ll be able to avoid all the issues that people with low credit scores have to deal with on a regular basis.
“So bottom line Don’t try and do it on your own. Get this book and learn what to do and how to do it”.
Ten Things You Shouldn’t do to Repair Your Credit
(Sourced from an article by LaToya Irby Credit/Debt Management Expert)
If you’re thinking about repairing your credit, or even if you’re going through the process now, there are some things you shouldn’t do. Here are ten credit repair mistakes you want to avoid.
- Not repairing your credit at all.
Perhaps the biggest mistake of all is putting off credit repair indefinitely. Even though most negative information will fall off your credit report after seven years, that’s still a long time to live with bad credit.
- Disputing EVERYTHING on your credit report.
This is a tactic often used by credit repair companies. There are two problems with trying to repair your credit this way. First, it’s not believable. If you dispute too many items, the credit bureaus could dismiss your dispute as frivolous. Second, you don’t want everything taken off your credit report. Some items are actually helping your credit rating and disputing them could cause your credit score to drop.
- Hiring a credit repair company.
Credit repair companies don’t have a good reputation for achieving good results. In fact, the Federal Trade Commission has been quoted as saying it’s never seen a legitimate credit repair company. Credit repair companies often make lofty promises that they can’t legally fulfill. In the end, you’re better off saving your money and doing it yourself.
- Canceling credit card accounts.
A lot of people don’t realize that closing a credit card can be bad for your credit score, especially if it’s a credit card with a balance or one of your older credit cards. You’ll never improve your credit score by closing a credit card, so think twice about canceling one.
- Playing the balance transfer game.
Transferring credit card balances to avoid making a payment is only postponing the inevitable. This tactic will only take you so far. Considering the balance transfer fees that are added to your balance each time you transfer it, the amount you owe continues to grow rather than shrink.
- Cutting up your credit cards.
A lot of people who go through a period of bad credit swear off credit cards. But, without them, you could have difficulty getting new loans or other types of credit. Not only that, using a credit card the right way will help rebuild your credit as you go through the repair process.
- Missing some credit card payments in lieu of others.
Prioritizing your payments is a smart move. But skipping some payments is not. If you want your credit to improve, you should not miss payments. Your credit will continue to get worse instead of better. The only exceptions are accounts that have already been charged off or have gone to collections. If you have to choose between paying a collection account or paying an account that’s current, pick the account that’s current.
- Sending letters without certified mail.
When you send letters to credit bureaus, collection agencies, lenders, and creditors, you should always send via certified mail with return receipt requested. That gives you proof that your letter has been sent and whether it’s been received.
- Not checking your credit report.
Before you ever begin repairing your credit, you should check your credit report. Your credit report will help you figure out what items you need to focus on to improve your credit. Without a copy of your credit report, you’ll have a hard time figuring out where to start repairing your credit.
- Filing bankruptcy.
You should not use bankruptcy as a credit repair tactic. Bankruptcy will not improve your credit and in some cases, your credit can get worse after filing bankruptcy. Since bankruptcy remains on your credit report for 7 – 10 years, you’ll continue having trouble getting credit cards and loans. Most lenders ask if you’ve ever filed bankruptcy, so even after bankruptcy falls off your credit report, it can still keep you from getting a loan.
11. Not Research additional Information
So, you can begin your research for more tips and ideas for dealing with debt or credit score improvement from places such as Debt Management Ideas
|Debt Management Ideas|
Life will be easier for you.
Once you get on the right side of understanding ‘bad credit’, you may want to consider other income sources as often issues with your credit can come from many sources one of which is earning too little and spending too much.
If you’re interested in learning how to build an online business, that will allow you to work from anywhere in the world. One that will make it possible for you to earn money to pay down your debts (and many other benefits!) then check out my number one recommended online training course that you can begin for FREE.
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|Test Drive Wealthy Affiliate – here for free|
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