Review Your Credit
Maintaining a solid credit history is an important part of managing your
finances. A good credit record can make future borrowing easier and help
you qualify for lower interest rates. Three large credit reporting companies
compile credit reports on millions of individuals and make those reports
available to businesses. Making sure the information in those reports
is correct is important.
A good credit record does more than just make future credit approval easier
to get. Most lenders use your credit record to determine credit limits
and what rates to charge. A good credit record will save you money. A
program enables you to get a free credit report once a year. You can request
your free report at the website - www.annualcreditreport.com. Otherwise
you can order a report from one of the three large credit reporting agencies.
- Experian -
- Equifax - 800/997-2493
Do not be surprised
if the reports are somewhat different from the different companies. Each
company gets information from many sources. If you find the information
in your file is inaccurate or unfair, you can take steps to correct it
or at least get your side of the story attached to your file. If a creditor
has made an inaccurate report, you can write to the creditor and insist
the record be corrected. You should also write to the credit bureau and
request their records be corrected.
To review the credit record of a business contact Dunn & Bradstreet
at (800-234-3867). There is a charge, but the information is useful. You
can also order from their web site.
Having an inaccurate credit report can cause problems at the worst possible
times. Review your credit report annually and make sure it is accurate.
A solid credit record and an accurate credit report are valuable assets.