Credit Can Be Intimidating!
Build Your Knowledge
What is a Credit Report?
A record of an individual’s or company’s past borrowing and repaying, including information about late payments and bankruptcy. The term “credit reputation” can be applied synonymously to either credit history or to credit score.
What is a Credit Score?
A number between 300–850 that depicts a consumer’s creditworthiness.
What is my Credit Score made up of?
How Do Things Get On My Credit Report?
Creditors like banks, credit card companies, cell phone providers and even hospitals, report your payments to the credit bureaus. These bureaus (Experian, Equifax and TransUnion) keep a record of everything reported to them by your creditors. That includes the time you paid your bills late. Also, when that one debt went to collections.
The Fair Credit Reporting Act
The Fair Credit Reporting Act Specifically States that Every Item Reporting on a Credit Report MUST:
- Report timely information
- 100% Verifiable Information
- 100% Accurate information
How can I improve my credit?
You are allowed 1 free credit report from each of the three Bureaus at annualcreditreport.com (You can get 1 of each every week right now due to covid)
BUT You need credit Monitoring! Get Smart Credit here.
Ever heard of KIKOFF? Its an installment loan that is reported to all three bureaus.
This is a way to build credit for FREE!
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