This Month's Newsletter Focus is Understanding Credit Reports
Time to address credit reports, good credit scores and the role of credit bureaus. Basically your credit report is just a detailed record of your credit history which is used to determine your credit score as well as other financial decisions by lenders and other parties.
- Check Your Score - Each credit reporting company – Equifax, Experian and TransUnion – is required to provide a free copy of your credit report, at your request, once every 12 months.
- Pay on Time - Late payments are the first signs of impending credit problems. When you pay late, it’s harder to get credit.
- Have a Plan - Know how you are going to repay a debt – whether you use a credit card or a loan – and stick to your plan.