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An instant credit report is that powerful piece of paper that keeps a concise track of how you pay your bills, how many credit card accounts you have and your credit rating. Other information such as your phone bill payment history, electricity bill history, and even your cable bill payment history may also be listed on your instant credit report if you have been delinquent or are in collections. If you are planning to buy a new house or a new car, you should know the condition of your instant credit report. In many cases people dream big but are jeopardized by an unsatisfactory credit history. This eventually results in credit denial. Therefore, it's very important for you to know your credit status. Your instant credit report shows if all your open accounts are in good shape, the amount of your outstanding debts, how often you paid bills late, and even how late your late payments were. Based on this information, a credit score is assigned to you that determines your creditworthiness. If your credit score is high, you are likely to get the most attractive loan scheme available in the finance market. But if your credit score is low, it not only stains your credit rating but also creates difficulty for you in accessing your loan. Even landlords can check your instant credit report before approving a rental application. Today, most landlords prefer to check your instant credit report to verify whether you have a history of late payments. If you have a late payment history along with huge monthly debts and accounts that have been charged off, lenders are more likely to reject your application. They would obviously assume that your rent would be late, that at some point you will not be able to afford your rent, or even that you will be a difficult tenant. Making a character judgment based on how you pay your bills may not be fair, but it happens. With the advent of the Internet, it has become very easy to view your free instant credit report nowadays. With the click of a mouse, you can see your credit report in an easy to read format. Through an online credit report, you'll be able to verify the accuracy of your valuable credit information. You'll also receive your credit score for free. False and inaccurate information would cost you, not only in the form of higher interest rates and payments, but would also affect your ability to get the credit you deserve. But if you are regular in checking your credit report, you can take the necessary steps to get rid of any kind of inaccurate information that appears on your credit report. By checking your instant credit report you can: --Verify the accuracy of your credit information --Dispute inaccurate and false credit items --Begin to repair your damaged credit --Protect yourself from identity theft and credit fraud --Get out of debt by consolidating all your high interest credit cards If your instant credit report suffers from any kind of inaccuracy, be it regarding your name, your address, your date of birth, your spouse's name, social security number or phone number, you are encouraged to inform one of the three national credit-reporting agencies: Experian, Equifax, and TransUnion. You should indicate on the online form what is incorrect and send it back to the agency. The agency would investigate your claim and report back to you in thirty days. When sending a request for investigation, make sure to send some evidence, such as a copy of cancelled checks indicating payments, or any paid-in-full letters you have received in support of your claim. Apart from these, you can also send any other documentation showing the creditor in error. If the investigation tracks any kind of error, the agency would correct it and your instant credit report would be updated and you would receive a new copy. Hence, check your credit report now and free it of all kinds of inaccuracies. |
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