You can obtain your credit score yearly for free online from the website annualcreditreport.com. Obtaining an excellent credit score can be important for individuals who may require borrowing money at prime rate to purchase a house or a car. A person’s score is measured by how they make payments and keep current accounts balanced.
Other factors are cash in hand and income which are required to calculate a person’s ratio of debt to income. This DTI compares the amount a person has to pay to creditors by making minimum payments necessary to the amount which he can take home every month. The most important thing which can hurt your personal credit score is having discrepancies. When the account which an individual never acquired, or had paid off already, is shown in default, superb credit scores can go down in a less desirable status which makes lending undesirable. Due to this reason, getting a report and score online is very important.
Don’t Get Duped by Reporting Companies Which Claim Being Free.
It is not wrong paying to get your credit report, but law has entitled everyone to get free annual credit report from the site annualcreditreport.com.There may be some sites which claim to be free you have to check them carefully.
What Should Be Done to Check Credit Score Again Which Has Been Checked Before.
For individuals who have obtained their annual free credit score report but need to check again for making sure they are correct, purchasing the report can be an alternative. You can purchase it by paying about $30 and it can be done easily through various sites which offer this reporting service.
This is necessary for individuals who have found out discrepancies in their reports and also who do not believe that the reporting agency can correct it on time.
How Can You Fix the Discrepancies in the Credit Report?
When discrepancies are found in a credit report, which may be due to the negligence of the lender as well as due to fraud, your credit reporting company requires receiving the letter through Certified Mail along with Return Receipt mentioning the discrepancies with the statement which says that 30 days are given to remove the discrepancies according to Federal Fair Credit Reporting Act, otherwise legal action can be taken for character defamation. Getting online free credit report is the consumer’s right and it can be thought as his responsibility.