Tuesday, November 26, 2013

Why Check Your Child’s 3 Score Credit Report

Most adults know they need to check their 3 score credit report so that they can find out information about how their creditors are reporting on their debt and borrowing habits to each of the major credit bureaus. However, many adults may not be aware of the fact that it is also a good idea to check their children’s credit reports… even if their kids don’t have credit.  So, why check all 3 credit reports under your child’s name? There are a lot of good reasons to do so.

Check your Child’s 3 Score Credit Report for Mistaken Information

Your child may not actually have credit in his or her name yet, but that does not mean that someone else doesn’t have a similar name and a lengthy credit history.  It is not uncommon for mistakes to be made and for the wrong information to be reported on someone’s credit report. If you check all 3 credit reports for your child, you will be able to catch any mistakes that are made by any of the credit reporting agencies. You can then contact the agency and get the incorrect information removed from your child’s report so he won’t start out life with a credit report that has someone else’s data on it.

Check All 3 Credit Reports For Signs of Identity Theft

Checking your child’s credit report is also a good idea because kids, like adults, can become the victim of an identity thief. It is important that you catch an identity thief as quickly as possible so that you can notify the appropriate authorities and so you can make sure that creditors don’t negative information about your child or even try to take action to collect from your child for debts that an identity thief incurred.  Checking your child’s credit reports lets you quickly see if someone has opened an account in your child’s name so you can take swift action.

Check Your Child’s 3 Score Credit Report So Your Child Will Be Ready to Get Credit

Finally, the last reason to check your child’s 3 score credit report is so that you can ensure your child is ready to get credit when he or she needs it. When your child goes to college, there is a real possibility that student loans will be necessary since most kids require them. You want to make sure your child is able to qualify for the best rates, and you can help him or her to do that by ensuring that there is no information on a credit report that will have an adverse impact on the ability to borrow.

Fortunately, checking all three credit reports is easy with IDENTITY GUARD® Platinum. Visit Credit Report 123 today to learn more about how to obtain a 3 score credit report and make sure your child’s credit information is correct.

Thursday, November 14, 2013

How Do You Check Your 3in1 Credit Reports?

Since there are three major credit reporting agencies in the United States that keep data on consumers, you need to check your 3in1 credit reports regularly.  This will ensure that you know what each of the credit bureaus is telling lenders about you.  Fortunately, checking your 3in1 credit reports is easy.

You Can Order a 3in1 Credit Report

One option to check your 3in1 credit reports is to simply pay a fee and order this report one time.  By doing this, you can get a snapshot into what is on your reports with each of the credit reporting agencies.  You can also see what your score is.  This is simple and allows you to take a quick glance at your credit to look for mistakes, signs of identity theft or red flags that could make a lender less likely to let you borrow money at a favorable rate.

You Could Sign Up for a Service That Offers a 3in1 Credit Report

The problem with just ordering your reports one time is that your credit information is constantly changing, and the information being reported about you does not stand still.  Each time a month passes, creditors report new information about your debts, your payment history and your outstanding balance.  New information is also reported if you apply for new credit (or if someone has taken your identity and applied for new credit in your name).

Because your credit report and score is constantly subject to change, it is a better idea to use a service that lets you see 3in1 credit reports regularly.  This way, you can monitor whether any new mistakes have shown up and whether anyone has borrowed money in your name without your knowledge.  You can also see how actions you have taken, such as repaying debt, have impacted your credit score.

Get Started and Order Your Report Today

One option you have is to order 3in1 credit reports and have access each month by using a service such as IDENTITY GUARD® Platinum.  Visit Credit Report 123 today to learn more about how this type of service can be helpful to you and to learn how to get the process started of checking out your credit reports and scores.

Why Is Your Credit Report Important?

Your credit report is an extremely important financial report card that is used for many different things.  Landlords may look at your credit report to make the decision on whether or not to rent to you.  A prospective employer probably will check your credit before hiring you.  Lenders will definitely look at your credit report before they let you borrow money.  Because your report is used for so many different things, it is essential that you understand the importance of this report.

Your Credit Report Paints a Clear Picture Of Your Finances

One reason why your credit report is so important is that it lets your landlord, employer and creditor know whether or not you have been responsible with your money in the past.  If you have a lot of maxed out credit cards, late payments or charged-off accounts where you did not pay, this is a bad sign that you haven’t done well with money.  A landlord, employer or lender may not want to trust you to be responsible with your cash in the future.  A good credit report, on the other hand, shows that trusting you to be responsible with your money isn’t a big gamble.

Your Credit Report Dictates Your Credit Worthiness

Many lenders will use a credit report and credit score as a primary determining factor as to whether or not they should allow you to borrow money.  If you have a very low credit score, lenders are going to be reluctant to offer to loan you money and may turn you down entirely.  The creditor could also offer you a high interest rate loan if the lender believes that your credit report indicates you aren’t likely to repay your debt.

Your Credit Report Helps You to See All The Debt and Credit You Have

Looking at your credit report makes it easier for you to prioritize debt repayments by helping you to see what cards are maxed out and what needs to be paid.  Since you can see inquiries and new accounts that have opened, your credit report can even be a tool to aid in the fight against identity theft.  Since you can see someone else may have opened an account in your name, you can take action to reclaim your identity and fix your credit.

With so many reasons to check your credit report, you shouldn’t hesitate to order yours today. Visit Credit Report 123 to get started.

Monday, November 4, 2013

Your 3 Bureau Credit Report and Scores Have a Major Impact On Your Finances

Your 3 bureau credit report and scores are extremely important to your financial health. Your 3 bureau credit report and scores dictate not just whether you can borrow money, and at which interest rate, but also many other things as well. Your ability to rent an apartment or get a job can be affected by a credit check. Your credit report and score can also impact your car insurance costs.

What Do 3 Bureau Credit Report and Scores Show? 

Your 3 bureau credit report and scores show the data being reported on you by each of three major consumer credit reporting agencies in the United States. The reports reveal whether you have made payments on time, the amount of money owed, whether or not you’ve applied for new credit and many other important details about your financial history. These details are important to lenders as they provide key information on whether or not you are a credit risk. The score is a shortcut for lenders as they can just look at the three-digit number and quickly decide if you are a good credit risk or not.

Why Is it Important to Check Your 3 Bureau Credit Report and Scores? 

Different creditors report to different consumer credit reporting agencies and there may be accounts that show up on only one, but not all, of your reports. There may also be errors or mistakes that show up on just one report. If you fail to check that one, you might miss the data that needs to be corrected.

Check Your Reports and Scores Regularly To Protect Your Finances

Since your 3 bureau credit report and scores have a profound impact on so many aspects of your financial life, you owe it to yourself to keep up-to-date on this key financial metric. Fortunately, with services such as IDENTITY GUARD® Platinum, you can regularly check your score to understand what lenders, and others with whom you do business, are seeing. To learn more about why it is necessary to keep tabs on your 3 bureau credit report and scores, contact IDENTITY Guard® today.

Credit Reports Can Help You Fight Identity Theft

Credit reports provide a detailed glimpse into the debt that has been taken out in your name. Whenever you make a request for new credit, lenders puts an inquiry on your credit reports. Once an account has been established, the payment history on that account will be displayed on your report. Together, these two things can help you to fight identity theft.

Credit Reports Reveal When Someone’s Applied for Credit In Your Name

When you take a look at your credit reports, you can see the list of inquiries. You should recognize any hard inquiries, which are the inquiries that go onto your credit report when someone has applied for credit (as opposed to soft inquiries which may occur when you check your own credit or when your credit is checked for promotional materials). If there is an inquiry for credit, and you weren’t the one who applied for it, this can be a strong indicator that your personal information has fallen into the wrong hands and is being misused.

Credit Reports Reveal When You Have Debts Not Being Paid 

The payment history section of your report can also be a good indicator that someone has misused your personal identifying information. If an identity thief opens up credit in your name, the debt, of course, is not going to be paid. You will see the credit account listed among your accounts, along with the nonpayment of the debt. If the account is not one that you opened, or that you recognize, this means you need to take action and alert the creditors about the problem.

Check Your Credit Reports Regularly 

 In some cases, an account or inquiry will be placed on your report by mistake and you can clear this up by contacting the credit reporting agencies and letting them know they have incorrect data. When the account is on your report, not because of an error, but because of identity theft, you’ll need to take further action like alerting the creditors and getting the police involved. The more frequently you check your credit reports, the earlier you can identify identity theft, and the more easily you should be able to stop the thief before damage is done to your credit. This is why using a service like IDENTITY GUARD® Platinum is helpful since you can check your credit frequently. To learn more, visit Credit Report 123.