How To Check Your Credit Rating For Free!

Are you thinking of applying for a loan, overdraft, or a mortgage soon? If so you could save yourself a great deal of hassle, save yourself money and even get a lower interest rate by making sure your credit report is accurate and up to date. Any incorrect entries found on your report would be seen by lenders. If these entries have a negative impact, your applications could either be offered with higher rates than advertised or even declined completely. Marketplace Clearnet

Negative entries found on your report will give the lender the impression that you are not trustworthy or reliable and do not keep up to date with your repayments, regardless of them being inaccurate or false entries! The lender will only be able to make judgements based on the information they can see on your file. This is why it is crucial to get hold of your credit file and have any incorrect entries removed.

This is a prime example of when you should think about obtaining a copy of your credit report. In the United States there are three main credit reference bureau’s, they are Equifax, Experian and TransUnion. It is possible for you to contact these companies individually to get a copy of the reports they hold, but as it is not possible to know which agency will be used by the lender you are applying to, it is best to get a copy of all three. In theory the information shown in each file should be the same, however as the agencies do not share data, it is often not the case. The credit referencing bureau’s may all be operating in the same business, but as they do not share information among themselves, some may have more or less of your information on you.

Once you have your reports you can begin to read through them and ensure all the data shown is accurate and up to date. If you find unexplained or unknown entries you can contact both the company who has created the entry and also the credit bureau the report was from. They will be able to investigate the entry and remove it if required.