Monday, February 3, 2014
How to Check and Manage Your Credit Score for Free
Note: This is not an advertisement for Credit Karma...just a message to help anyone that doesn't know about it. They are many places to check your credit, but I choose this one as my personal choice.
I use the website, Credit Karma to check my credit from time to time. To my own surprise, I found a charge on an old credit card that was reporting delinquent payments. Understand, it was an account that was $0 balance and the card had been shredded. I would have never known about it, if I hadn't checked my credit on the site, Credit Karma. Luckily, I got it cleared up. But, these things are not simple. It took 3 phone calls before I actually got it cleared and a letter written to credit report to report the mistake on their part.
Serving as the President of the Board of a local Credit Union, credit scores is a commonly discussed term and how it can effect the rate you get for a loan, insurance, etc.. As a Realtor, I know many people are often surprised about something on their credit report that they knew nothing about or was incorrect. And it isn't the time you want to be dealing with such issues.
Companies are increasingly using credit scores as an objective measure of not only your credit, but your credibility. Some people confuse a credit report with a credit score, when they are two different things. A credit report contains all the information in a person’s credit file maintained by a Credit Bureau. The data in a credit report is interpreted through a complex mathematical process to determine a credit score, which is a single number that commonly ranges from 300 (terrible) to 850 (perfect).
Credit Karma also helps you track your debt and finances by giving you instant access to your credit score, and finding you the best savings options for your credit cards, mortgage, auto loans, and more.
Most people know that a lot is riding on their credit score, from the interest rates you pay on your loans, to your ability to rent an apartment, buy a home or car, and even to find a job. Companies are increasingly using credit scores as an objective measure of not only your credit, but your credibility.
This is not something I would normally post on, but I wanted to share with you my friends in blog world.
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