New Year, New Beginning. Planning to make a major purchase? How is your credit rating?
I don’t know about you all but I have been following a tradition yearly. Each year, as my W2s come in through the mail, I make it a point that during the time that I file my taxes to make a request for my free annual credit report. You do know that as an American, you have the right to one free credit report a year right?
Why do I do this? Because it is wise to keep on top of your credit records. I have found in years past that there are inaccuracies in my credit report (a bill that didn’t belong to me or a negative point on a bill that I have paid long ago) that needs correction. Your credit report matters because your credit score is generated from it. If you have a lot of negative points in your credit report, chances are that your credit score will be lower and result in higher interest rates on your credit cards and anything else that you borrow.
You can fix your credit report yourself by reviewing the data after you receive a report and request correction from the credit bureaus but it takes time. You have to have patience in dealing with the credit bureaus in order to correct any issues you may find on your credit report. However, there are services out there like rmcn credit services where they do the work for you. They can contact the credit bureaus on your behalf and resolve any issues that you may have on your report.
This is something that you should treat lightly. Your credit report and credit score matters a lot because it gives you the
power to be successful financially. Getting lower interest rates and getting approved for loans in case you need one is a big
deal specially now that banks have become very strict in lending. If you’re planning to make a major purchase such as buying a home or a car, you should review your credit report first. Trust me, you’ll get a better deal and better interest rate if your credit
is in check.
