| Are you getting ready to buy your dream house or a | | | | check applicants' credit reports and hire the applicant |
| brand new car, but fear being turned down by | | | | with the best credit, because they assume that this |
| creditors? Do you want to apply for a loan? Or you | | | | person has more integrity. |
| just want to get rid of debt and repair your credit | | | | If you manage to raise your score above 720, you |
| score? Whatever the reason may be, you are | | | | can avoid all of the problems above and you can |
| definitely not alone. There are more than 30 million | | | | enjoy many benefits. Your monthly payments can be |
| people in the US with scores under 620 that face | | | | over 40% lower than they are now! |
| great difficulties in getting loans and credit cards. | | | | So, how do you do that? |
| You see, having bad credit can actually affect every | | | | Get Copies of Your Credit Report |
| aspect of your life. A score below 620 can lead to a | | | | Obviously the first thing you need to do is to evaluate |
| number of problems: | | | | the situation. You need to find out which items are |
| - It will be very difficult to get approved for a | | | | dragging your score down. You can get your reports |
| mortgage, but even if you do you'll probably pay 3 | | | | for free upon request. The 3 major credit-reporting |
| percent more than other people. | | | | agencies TransUnion, Equifax, and Experian have set |
| - You will pay double-digit interest rates for a home | | | | up a central website, AnnualCreditReport.com, where |
| equity loan. | | | | you will be able to access your annual report online for |
| - Many insurance companies will charge you more for | | | | free. To verify your identity, you will need to provide |
| car insurance. | | | | specific information, such as your name, telephone |
| - You may get turned down by potential landlords. | | | | number, social security number, current and previous |
| - You may not be eligible for service by some utility | | | | addresses, and date of birth and maybe a copy of |
| companies and even if you are, they may ask you to | | | | your driver's license, utility bill, or bank statement. Once |
| pay a higher deposit. For example you may have to | | | | you get your report, look over for errors and negative |
| pay even a $300 deposit for home telephone or cell | | | | accounts (late payments charged off accounts) that |
| phone services. | | | | can pull your FICO scores down. When you find them |
| - You may have trouble getting a job. Many employers | | | | you must start the process of disputing them. |