Credit Reports: Know Where You Stand
Credit reports reveal detailed information about how you spend your money and the current and past debt obligations you have created. You should definitely know where you stand before you apply for a loan.
A credit report will show both the good and the bad, like missed or delayed payments, and lenders use your credit report to determine how much money they can loan you and at what interest rate they would charge you should they approve your application for a loan. The hard fact is: Lenders use your credit score and credit habits as the basis for approving your application for a loan or mortgage. While it is not impossible to overcome a poor credit score in today’s tougher lending market, you should do everything in your power to improve your credit score before you apply for a loan.
Viewing a credit report may not be enjoyable for many, but you should realize that it does not just bear a number (that may be good or bad for you); it also shows you where you can do improvements to raise your score. Raising your credit score and improving your report to reflect more responsible credit habits can be as easy as allowing us to help you.
Everyone is entitled to one FREE credit report per year (every 12 months) at https://www.annualcreditreport.com. Start here to learn where your current credit score stands. Also, the FTC (Federal Trade Commission) offers some great information on your access to credit reports.