Do You Know Your Credit Score?

[GETMETOCA]

I've recently found liberation by taking matters into my own hands. I'm also going to explain how totally PAINLESS and easy it was to know where I stand.

I "figured" my credit report was in good standing but really, I didn't know. The last time I had seen a copy of my credit report was in 2003 when I refinanced my house. On it were a couple of references to a time back in the late nineties when I had been a victim of identity theft and someone had been using checks I'd discarded from a closed account. The issues were easily explained away, but every year that came and went it would bug me to wonder if the creeps were creating more issues that I needed to 'splain away. Instead of dealing with it by delving into my credit report, I just ignored it and let the anxiety pile up.

Today, I decided to take matters into my own hands and within a matter of minutes I had a free credit report and my credit score for an additional $7.95. I was just curious what my credit score was because I'm thinking about buying a new car at the end of the year or upon my next promotion, whichever comes first.

Use this website: www.annualcreditreport.com You basically just provide your SSN and basic info on their secure website. You are then asked to choose one to three credit reporting companies (I chose all three). To verify your identity, you are asked to answer 3-5 multiple choice questions based upon info in your credit report, like steets you may have lived on in the past or loan companies you mortgaged your house with, etc. Stuff only you would know the correct answer to but nothing too personal.

VOILA!! I was able to view my credit report and to determine that there were no negative issues affecting my standing. I chose to spend the one-time $7.95 to see my credit score and I am happy to report that I am in "Excellent" standing, so I should expect to get the BEST offers available to me.

Things that affect your credit score are issues such as too high credit limits, credit to debt ratio, number of credit cards, reasons for inquiries into your credit report, late payments, etc. Credit scores range from 300 to 850.

I highly recommend KNOWING YOUR CREDIT RATING! Do it!! :nod:

 

[oldguy]

We just went thru the same thing as we purchased a new home. Surprising thing was my score was 10 points higher then my wife's even tho we have been married 29 years and have had joint credit for that long on everything. Turns out her 10 point loss was because about 5 years ago her purse was stolen and the thief charged about $5K on it at a Best Buy store in less then 45 minutes after breaking into her car. The theft was covered and the thief was caught and prosecuted thanks to him putting $12 worth of gas into his car right in front of the security camera on the way to Best Buy. The explanation we got was Best Buy reported that her charges were not paid for - even tho it was coverred under the theft report.

 

[sparkysakitas]

i just tried to buy another house found out ex wife had opened up charges under my name when we were married and the went into default so this is where mine is
----------> :uh:

 

[GETMETOCA]

i just tried to buy another house found out ex wife had opened up charges under my name when we were married and the went into default so this is where mine is
----------> :uh:

Sorry to hear that! :(

It makes sense for everyone to run their credit report even if they are married. You just never know what you're going to find that had nothing to do with YOUR choices!!! :pissed:

 

[rickyd]

I got mine awhile back when i bought my bike, i keep a small savings in a credit union, they ran it for me....

 

[sparkysakitas]

Sorry to hear that! :(

It makes sense for everyone to run their credit report even if they are married. You just never know what you're going to find that had nothing to do with YOUR choices!!! :pissed:

yeah some of it was mine due to her losing her job
but when i found out 4 years later about stuff that wasnt mine
i was pissed :bang:
all i can do now is work on getting it straightened out

 

[AgentOrange]

additional resources

here are the numbers to the 3 credit repositories that accumulate information on all of us and calculate the scores.

trans union 800-888-4213
experian 888-397-3742
equifax 800-685-1111

I believe they have to supply you with a free report once every six months.

 

[GETMETOCA]

I believe they have to supply you with a free report once every six months.

Leave it to the loan guy! :cool: Thanks Al!

 

[dklink2000]

Actually I do....Thank you very much. :fft: ;)

 

[jaction125]

Oldguy, dispute that and make them remove it! They have to. I've disputed things and had them removed with little more than an email. The site Nat lists above will have a link to dispute marks on your record. I have great credit but, my only bad mark was a judgement against me (insurance paid it), I've successfully removed it from all three without making a phone call. :cool:

Every three months I check an agency, I rotate them so I can always check for free.

I also ask to see the copy of my credit report any time my credit gets run by banks, landlords, etc. They can't give you a copy, but they can show you your report with the fica score.

 

[stevensj2]

Keep in mind that part of the algorithm(s) used to calculate your score does include the number of times your score has been accessed (ex: any previous attempts to get a loan in the recent past, etc).

Checking your credit score just to check it can actually hurt it, as it adds one more time that your score has been accessed.

Your bank/credit union and the orginization they use (trans union, experion, etc) are required to give that info to you if you requested. So ask for it only when closing a loan or something like that.

It's generally not advisable to do random, spontaineous checks on your score simply to know what it is.

Additionally, many places try to charge you or get you to subscribe to something in order to receive your score (freecreditreport website, for example). Don't pay a dime or sign up for a thing. It is required by law to be free information once every 6 months.

But again - don't just go looking it up out of curiousity. Ask about it while opening/closing a loan while it is already being accessed.

 

[woodsy]

Personally, if I need to run my Credit Report I would use the local Bank... I do a lot of business on the Internet and know from experieince that the fewer times I type my personal info - especially my SSN, on my key board and send it out into Cyber Land the better off I am..........
Thats just me though...
Woodsy

 

[twoofeach]

Generally, inquiries do not negatively effect your credit score. Collections, public record, tax leins and recent late payments are most damaging. I have seen a few isolated incidents where a large number of inquires had a dramatic effect on a person's credit. Mostly, those were situations where they were self employed and were using their credit in the course of running their businesses (business loans, car leases, etc...).

+/- 10 points isn't going to disqualify you for a loan and generally will not effect your score one way or another. If you pull your credit report at the end of every month for a year, you will get 12 different scores. It is constantly changing and even though inquires are generally viewed as a negative influence, another month of a car or mortgage payment also strenthens your rating.

Identity theft is at an all time high and I would encourage anyone to check on their creidt report to make sure everything is in order before a $10,000 collection shows up when you are trying to by a home. Also, pulling a credit report has become a more common practice for more and more basic services.

 

[Danman]

Things that affect your credit score are issues such as too high credit limits, credit to debt ratio, number of credit cards, reasons for inquiries into your credit report, late payments, etc. Credit scores range from 300 to 850.

Mine is proably bad! I've been wanting to do this for a while. Its proably late payments that get me. :bang:

 

[altagirl]

When we refinanced recently I had to provide a written explanation for all the times my credit had been checked in the last year. I don't know if it negatively affected the scores or not though.

 

[squeaky]

I just got mine - plus my credit score. Not bad, not bad - I do have some potentially negative items that are fairly old.

Does anyone know how long they stay there? They're all paid...

 

[MXGirl230]

We just had ours checked a year ago when we applied for a home loan. The lady at the bank was mad because our individual scores were higher than hers. We're half her age...she thought there was a mistake. She even went to the bank manager to make sure something wasn't wrong. She said she had never seen a couple in their early 20s w/such great ratings. :nod: