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Free Credit Report Information
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Here Are Some Very Helpful Credit Report Resources!
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More Helpful Resources For You Below!
We provided different pages full of helpful information for you.
Each link has has different information for you to make your move less stressful and you save money!
Even a different moving day can make a big difference in your pocket book!
Learn about the importance of your credit report, how to check your rating with each bureau, and what your credit score means. Find out more about equifax, trans union and experian consumer credit reports.
Planning a move is no small task.
There are numerous details to consider. One of the most important things you must do before you apply for tenancy in an apartment or house is to become familiar with your credit report. Do you know that the owner or landlord will run a credit check? You need to understand the basics of credit reporting, know your rights, and know what is in your credit file. Knowing what is in your personal credit report will allow you to be prepared to address any issues or questions the landlord may have.
You are probably already familiar with the concept of ?credit history.? A good credit history is the reputation for paying your bills on time that will allow you to purchase goods or services with the understanding that you will pay for them at a later time. Even if you use your credit every day, there are some facts about credit reporting that may impact your chances of getting chosen as a tenant.
Credit Reporting Agencies
A credit reporting agency or credit bureau gathers, maintains and sells information about consumers? credit histories. It collects information about consumers? payment habits from credit grantors, stores the information in a database, then sells the information to other credit grantors in the form of a ?credit report.? When you apply to rent an apartment of house, the owner or landlord will order your credit report and analyze the information. What is contained in your credit report can greatly impact the landlord?s decision whether to accept you as a tenant or not.
There are three consumer credit bureaus:
Equifax
Experian
Trans Union
Although many national lending institutions report to all three agencies, many smaller banks or retail lenders report to only one. Your credit report from one credit bureau may not necessarily be the same as that of another one of the credit bureaus. When looking for a housing rental, it is important to be familiar with your credit report from each of the three credit reporting agencies.
Credit Reports
A consumer credit report contains a factual record of an individual's credit payment history. Credit grantors are permitted by law to review your credit report to determine whether to grant you credit or not. Every time you have opened a credit account, your credit report has been reviewed. As you pay your bills, most lenders report credit payment information to credit bureaus. So most of the information in your consumer credit report comes directly from the companies you do business with.
What?s in a Credit Report?
A consumer credit report contains four types of information:
Identifying information, credit information, public record information, and inquiries.
Identifying your information includes:
· Your name
· Your current and previous addresses
· Your Social Security number
· Your year of birth
· Your current and previous employers
· If you're married, your spouse's name
Credit information includes credit accounts or loans you have with:
· Banks
· Retailers
· Credit card issuers
· Other lenders
Public record information includes:
Any information that's contained in state and county court records, like:
· Bankruptcies
· Tax liens
· Monetary judgments
Landlords and Credit Reports
Each owner has their own way of evaluating credit reports. The main objective, however, is to establish your creditworthiness. Before a landlord rents to you, they want to be as sure as possible that you can be trusted to pay the rent on time. For this reason, it is important that you know what is in your credit report so that you can address it accordingly. If you have had one or two late payments on some accounts, the owner may or may not ask you about them. In the event that he or she asks about them, you can be prepared with an answer.
If your credit history is less than desirable, consider submitting a letter of explanation with your application.
Getting the 411 on your Credit Report
You have found the perfect place to rent. The rental application gives approval to pull your credit report. Do you know what is on your credit report? How the information is collected? Can the information on it keep you from getting that perfect place? It?s time to learn what you credit report says and how it can affect you.
By federal law, you?re entitled to one free report from the big three agencies, Equifax, Experian and TransUnion, each year. The reports aren?t sent to you; rather you have to request them. There are a number of sites that offer free reports but be sure to read any restrictions that may exist. You can also contact the reporting agencies directly for a copy of your report.
Credit reports are broken into four sections: identifying information, credit history, public records and inquires.
Identifying Information
This is just what you think it is ? data that describing your background including your name, date of birth, social security number, current and past addresses, employers and phone numbers. Verify that this information is correct. Sometimes information may be reported incorrectly and multiple versions of your name or social security number may be listed.
Credit History
You?ll find the creditor?s name and account number (sometimes this is scrambled or partially hidden for security purposes). For each account you have when it was opened, the kind of credit (car loan, credit card etc.), whose name the account is in, amount of the loan, how much owed, account status (open, inactive, paid etc.), payments (fixed monthly, minimum amount) and how well you paid the account.
Public Records
You would like this part to be blank. This isn?t your criminal or driving record. This just relates to financial information like bankruptcies or tax liens.
Inquiries
?Hard? inquiries are ones you initiate like when you fill out your rental application. ?Soft? inquiries are ones from companies that want to send promotional information like those pre-qualified credit cards you receive in the mail. Soft inquiries do not affect your credit report. Hard inquires can lower your credit score but probably won?t. Reporting companies have grace periods in place to account for times when multiple hard inquiries may be needed. So hard inquiries made 30 days before home or auto loans count as one and multiple hard inquiries within 14 day periods count as one.
If you find a mistake on one of your credit reports, like an account that isn?t yours, you?ll have to fill out a form that was included or online. Errors can take time to correct because creditors have 30 days to respond to a dispute. Make sure to keep track of any error that need to be corrected.
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