| When you apply for a loan, in order to buy real estate, | | | | Unpaid medical services. For some reason they seem |
| a car, a boat, or any other major purchase, also when | | | | to bother potential lenders. |
| you apply for a new credit card, your credit history is | | | | Collections. Even a $100 that you borrowed and never |
| reviewed. | | | | paid back, that has been put on your credit report |
| Why? | | | | could hurt you. |
| The person or financial institution, bank, etc., whom you | | | | These factors, plus the 100's of other things that are |
| get the loan, or credit card, from wants to know what | | | | on your credit report, are summarized by your 'credit |
| the likelihood is that they will be paid back by you. | | | | score' |
| Depending on the "likelihood", of their being paid back, | | | | Do you want to know what your credit score is? |
| they will 1. approve or reject making a loan to you, and | | | | You can get one via those 'Free' credit reports, |
| 2. base the interest rate and fees they charge you, all | | | | although they only show you information from one of |
| because of your credit history and credit score. | | | | the three credit bureaus, or you can buy a 'Tri-Merged' |
| What is in your credit report, "your financial history"? | | | | credit report. |
| Do you pay your bills on time? | | | | After all a 'tri-merged' credit report is what the banks |
| Bills, even utility bills, mortgages, your monthly rent, | | | | or credit card companies will use in reviewing you, and |
| credit cards, long overdue or overlooked, can show up | | | | "wouldn't you like to know what they are going to |
| as a blotch on your credit. | | | | see"? |
| Do you pay your credit cards in full each month? The | | | | The better your credit history and the better your |
| amount of unpaid credit cards, even if they're never | | | | score score, the lower interest rate you will get and |
| late. The more you owe the less credit worthy you | | | | you will less problems getting the loan you need. |
| are. | | | | Request a credit score now so you can find out what |
| The amount of credit already extended to you; loans | | | | your credit score is and see what can be done to fix |
| or credit cards. | | | | it, should you need to. |
| Credit extended to you by your local hardware, or | | | | You will be glad you took care of anything that needs |
| appliance, etc., store are looked upon unfavorably and | | | | it now, rather than later when you actually need that |
| has a negative impact on your credit. | | | | loan and can't get it. Your credit score can affect you |
| Cancel and make sure you get rid of the bad credit as | | | | greatly if you don't know what to do about it now. |
| quickly as you can. | | | | |