Saturday, January 13, 2007

Credit Report Review

So, one of the things that I've started doing is trying to pull my credit reports at regular 4 month intervals so that I get a free one frequently to make sure that things are progressing as I'd like them to and also as a safeguard against identity theft.

Of course, the part that I don't like is that these reports don't include a fico score - the key number when it comes to determining if you are going to be extended credit and at what interest rate.

This time, I got the report from Equifax - I went to the end of the process and for 8 dollars more I could get my credit score. And the Equifax gave me a credit score of 742. This of course is not even close to the perfect score of 850 when it comes to fico score nirvana, but 742 is still a respectable fico score.

Things to improve are basically lowering my balances on my credit cards and loans, which I already have a plan for. And also I noticed that the amount that I paid off on one of my loans is actually still being reported as debt outstanding so I will likely have to get that taken care of.

But it pays to check your report and for a cheap price like I paid, 8 bucks, I'd say that it is worth getting the score too so you can see how to make it better.


S/100/30 said...

I agree, it's worth paying for. The only reason that we don't check ours more often is that we're too disorganized to remember! :)

Finance said...

What web sites do you use to pull down your free credit reports?

EasyChange said...

The site I typically use is annual credit report dot com. This lets me pick my state and then pick the provider that I want to get it from. You have to keep track of that one yourself. Then after you enter the information, it redirects you to the bureau's site.

credit card specialist said...

It is necessary to check our credit reports at least annualy to be sure that everything with them is OK. I do it online at the site that was mentioned by "easychange". And I have to say, it is convinient, because you can save your time.