CREDIT SCORES AND REPORTS
CO Credit Reports
Credit reports mean a lot more today than you could ever know. They hold personal information that when assessed can determine your responsibility and financial management skills. Today's credit report can even determine whether you are skilled enough for a job or ready for a new loan. Even insurance companies providing auto insurance these days may look upon your credit report for guidance in deciding which rate to quote for your policy. Understanding where and how to get your credit report is something that you can do through 4dmv.com, offering the clear cut information needed to find your report and use it to your advantage.
Free Online Credit Report
Getting a credit report online today is nothing new. The three major credit agencies actually offer a single free credit report each year for your own personal use, offering you the chance to look through your report and determine what you must do to increase your credit score or improve your credit worthiness, lessening your financial risk for companies, employers, and lenders alike.
To get your credit report for free online, simply:
- get online and complete the application for each credit reporting agency, and submit your application to receive your report for free instantly. You can then print the report and choose from the option of purchasing a membership that allows you to frequently check your credit report and score, or just taking what you have and working from there.
What Goes Onto Your Credit Report?
Even when you were 18, getting that first cell phone plan and then cutting out on the plan early because pre-paid seemed so much easier, your credit report was forming from nothing to nothing good. As you built up your name, paid your debts – or didn't in some cases – your credit report continued to form, showing the decisions you made through discrepancies or good credit marks. If you had a line of credit that was never fully paid, you can believe that it is present on your credit report, showing the credit agency attending the debt and the amount that is owed.
How to Use Your Own Credit Report
If you are receiving your own personal credit report, there are several things that you can do with the information you receive. For instance
- if there are errors – which there can be in some cases – you can make the necessary arrangements to have these mistakes removed from your credit report so they no longer affect the decisions made about you. If you find that there are discrepancies that belong there, you can use the information provided to make the necessary arrangements to settle the debt. In most cases, that means calling or contacting the creditor and determining the best method of payoff – which in most cases can be a sum much less than what you owe. If you choose to do nothing with the information provided, then you are just neglecting your opportunity to improve your credit and ensure that the choices made about you are positive and not negative.
Employee Credit Reports
Employers are also able to access employee credit reports, or even candidate credit reports so they can determine whether or not to hire or advance the employee based on past history of financial management and responsibility. That is all it comes down to as it takes a great deal of management skills to correctly maintain good credit today, which is something that is looked highly upon by employers.