Sometimes no matter how hard we try to keep it straight, there can be hiccups in the road. But knowing what to do and how will go a long way in helping to repair any credit issues that arise.
It’s imperative that you keep an eye on your own credit to be sure that everything reported is correct, that no one has misused your credit, and that you are aware of everything on it.
When your credit score drops due to bad credit or mistakes on your report, there are consequences that can be dire: 1. Your application for credit or a loan may be declined. 2. You will suffer higher interest rates.
Whenever a company, bank, or employer denies your application for credit, employment, or loan, you should be able to receive a free copy of your credit report if you report this negative action within 60 days.
Also you’re entitled to get a free copy of your credit report from each of the three major credit bureaus once every 12 months. – Equifax – Experiean – Transunion
Any score between 700 – 740 is considered good. If you’re anywhere in that range, that is usually enough to qualify you for the best credit cards and lowest mortgage rates.