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Access your Credit Report Online
There are three principal arguments that say you should take up the chance to receive your free credit report , from one of the 3 major bureaus that lenders use in assessing your loan request. The first argument is it would let you know what your ballpark interest rate will be. Secondly, it would show you which company is reporting any negative payment history from your past. Lastly, it will enable you to take the necessary steps to correct any negative data on your report with that specific company.
When you have a weak credit score, it's simply not wise to apply for a substantial size credit line or try to finance a new or existing home from a lender. Get access to your report and contact the companies which are reporting any errors.
Correction of Credit Mistakes
While major credit score reporting bureaus are known for their strict reporting requirements, mishaps do happen and mistakes are sometimes found in a number of of the reports. This truth is, it is an excellent strategy to check your credit report and score from free on-line websites at the very least once a year.
If you happen to believe that an error reported against you is not normal, you'd be surprised. It's possible you'll uncover the unfavorable error in the form of rejected mortgage application or a rejected auto loan application which can be quite embarrassing. For those who amend any errors early from signing up with a well-known service, however, you will be able to act quickly and have them resolved.