Your financial status is reflected on many public documents and your official credit report is one of them. Being able to improve your credit and restore your credit score depends on information that can be gathered from those reports. Not only is this important in repairing your credit score, but it can generally be helpful for improving your overall financial fitness.
This process is fairly simple and can be low-cost or even free if you do it right. The only thing you need to get started is gain access to your credit reports. Assessing your credit status with an experienced credit repair specialist and working to repair your credit score will come next.
What is a Credit Report?
Before going deep into the matter on why you should order your credit report, and how you can benefit from it, let’s first discuss what credit reports are and how anyone can make use of them.
A credit report contains information about your credit history and your current credit status. Your credit status is determined by the accounts you have open with organizations from which you have borrowed money. This report contains information on how credit-worthy you are to lenders and how much you owe in outstanding payments. These reports can also contain information about your financial past.
The Fair Credit Reporting Act (FCRA) requires Equifax, Experian, and TransUnion to give you 1 free report on your current credit status every year. While this service is free, it is only available to you once per year. If you are looking to actively monitor which items are negatively affecting you on your credit report, you may need access to this information more than once in a given year. If you have already used your 1 allotted Credit Report request for this year, our partners at Free Credit Click will allow you to download your current credit report as of today for FREE.
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Don’t hesitate; there are several good reasons why you should be ordering your credit reports and reviewing them frequently can be beneficial for staying on top of your financial wellbeing. Your credit reports contain very important information about your creditworthiness.
What’s The Benefit Of Ordering My Credit Report?
One of the main reasons to order your credit reports is to examine those reports and assess your current financial situation so it can be improved. You may also use the information provided in the report to check for credit fraud and mistakes that may be causing your credit score to be far lower than it needs to be! Working with an experienced credit repair specialist to review your credit report can help you determine what actions need to be taken to repair damages done.
Additionally, you may also want to order your credit report to be able to see what lenders see when they review your loan application. These are all excellent reasons to download your current credit report from our trusted partners at Free Credit Click.