The most determining factor for lenders in applying interest
rates and terms for a loan is your credit score. Your credit score basically
demonstrates to them your ability to responsibly pay your debts and handle your
finances. Without a credit scoring system, lenders would have a difficult time
determining the risk involved in granting loans. This would result in far more
defaults and losses for lenders, which would greatly intensify their scrutiny
in giving loans. In this way, credit scores actually make it easier for the
average person to get the loans they need to invest in their future.
Dedicated to providing the tools you need to
view and improve your credit score. In some ways, there is nothing more
important than having a great credit score when building a financial
foundation. Major purchases like homes and investments are made possible though
loans with low interest rates and favorable terms, which are much more easily
secured by those with great credit scores.
Getting your free credit score report is very
simple these days. Some websites offer a free credit report but don't actually
give you your score. Sure, you will receive information on your credit history,
but you also need your actual credit score to know where you are and where you
need to go. This website provides a full free credit score report along with
your score. Having this information at your disposal arms you with the
negotiating skills you need when dealing with creditors and also helps you to
strategize in rebuilding your credit.
Once you have your free credit score report,
you will need to spend time understanding your score and learning how to
improve it. This website offers a wealth of information and tools for
accomplishing this. Here you can find articles from reputable sources as well
as updated blogs on important credit topics. We also offer tools that monitor
your credit report and notify you of changes. Score Watch lets you know when
you qualify for better interest rates and it also determines what factors are
most greatly impacting your current score. This takes away some of the guess
work in determining what you need to do to improve your score. FICO Deluxe
provides an even more complete picture of your credit situation from
TransUnion, Experian, and Equifax. You will receive a complete score and report
from all three of these major credit agencies. This service also provides a
simulator that allows you to run hypothetical situations that might impact your
credit. For example, "How will it affect my credit if I pay off this
particular debt?"
Another tool we offered is the secured credit
card. For those with troubled credit pasts, it can be difficult to obtain a
credit card. Not only are credit cards extremely convenient, paying credit
cards responsibly is a great way to improve your credit score. By using some
sort of collateral account, you can receive a secured credit card. Paying on
this card responsibly will eventually increase your available credit and will
also build your credit trustworthiness.
Get your free credit score report today and
begin building the road to a great credit score and financial freedom. Your
credit score is too important to ignore, because it helps to make it possible
for you and your family to make the investments of a lifetime that can provide
security for you and for those that coma after you. Take the time to learn more
about your credit score and utilize the tools we have to offer. You can start
by getting your free credit score report now!
