Credit Report Vs Credit Score
2010
Free Credit Reports Vs. Paid Options
Anyone who has ever applied for any type of loan knows that your credit score is an integral part of the process.
Any potential creditor can pull your credit report and use that information in order to determine whether you are a good risk to lend money to. However, though it’s your information, you can’t just get it whenever you want.
Paula de la Torre Editor of the “Best Credit Reporting Services” website — http://www.CreditReportsAndScores.biz — pointed out;
“… You have to request it through a credit reporting agency. You can get this information free from each agency once a year. However, you may decide to use a paid option, instead, depending on what information you need…”
Free Credit Reports
There are three main credit reporting agencies. Each collects information from your creditors and compiles it into a credit report. You can request a copy from each agency once a year for no charge. It is simple to request all three at once using a service that processes the request for you. You can expect to receive some basic information from these free reports. A listing of each account and the history is common.
You should be able to see if you have any late payments or delinquent accounts. This should give you a good idea of where you stand. These reports are also perfect for monitoring fraudulent activity associated with your name. In order to obtain the reports, you will have to verify that you are who you claim to be. A basic questionnaire may ask you things such as what names you have used, different types of accounts you have had and if you have recently moved.
Paid Credit Reports
Free credit reports do not include some regularly utilized bits of information. The most common thing you won’t get with a free credit report is your actual credit rating number. This is the basic information that determines whether or not you qualify for a specific loan.
“… You can, however, pay extra to get this information. In addition, if you are working on rebuilding your credit, you will need to be monitoring it more closely than a once a year inquiry allows. In this instance, paid options are best…” P. de la Torre added.
Getting a credit report is easy. You can request information once every year for free. For a small fee, you can have more information provided and tap into more often than the free options. Which is best for you depends on your situation and needs.
Further information about how to get a detailed credit report including scores and as often as you want by visiting; http://www.CreditReportsAndScores.biz
About the Author
Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.
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