Get Your Credit Report and Analysis
It is very important to get your credit report and analysis. Why is this important? For one thing, if
you're thinking about buying a house or applying for credit for any other big purchase, you'll
need a clean credit report, and it's always best to get your credit report and analysis before your
lender does. This will give you an opportunity to clean up any discrepancies or errors, which are
fairly common, and which can throw a monkey wrench in the works if not resolved.
Ideally, you should get your credit report and analysis once a year with each of the three credit
* Equifax – (800) 685-1111, www.equifax.com
* Trans Union – (800) 888-4213, www.transunion.com;
* Experian (888) 397-3742, www.experian.com
You're entitled by law to get your credit report and analysis for free from each of these three
credit bureaus once a year. You can get all three at once or spread them out over the year. If you
get your credit report and analysis more frequently than that, each report will cost no more than
around $10 and in some states considerably less.
If you've been turned down for credit in the last 60 days because of something a lender saw on
your credit report, you can get your credit report and analysis free of charge. Lenders are
required by law to notify you of this right if they deny you credit.
When you get your credit report and analysis, review them carefully to make sure all the loans
and credit accounts listed really belong to you, and that all the accounts listed as open are
actually current loans or balances. If a loan you've paid off or a credit card that was cancelled is
still listed as open, contact the credit bureau and ask for your credit report to be corrected.
What Is the Range of Possible FICO Credit Scores and What Do They Mean?
FICO credit scores range between 300 and 850. Ratings are as follows:
* Excellent: Over 750
* Very Good: 720 or more
* Acceptable: 660 to 720
* Uncertain: 620 to