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Credit scores can have more influence/impact on our lives than we want them to.

Do you know what yours is? There are three reporting agencies...

If you do know it, please don't disclose it. It's just that it's easier to obtain copies of credit reports than it used to be. However, what's on them can be difficult to adjust and a huge source of angst.

Virgin-Island-Girl wrote:Credit scores can have more influence/impact on our lives than we want them to.

Do you know what yours is? There are three reporting agencies...

If you do know it, please don't disclose it. It's just that it's easier to obtain copies of credit reports than it used to be. However, what's on them can be difficult to adjust and a huge source of angst.

For those looking to obtain their credit info, the site you want is

www.annualcreditreport.com

There are others with similar names that will try to get your private information, sometimes at a cost. The link above is the one that was set up when the companies were required to provide the information to the public. There a good FAQ page there, too.

I believe everyone (including spouses) is entitled to one free report each year from EACH of the three -- Equifax, TransUnion and Experian.

chippewa wrote:

Virgin-Island-Girl wrote:Credit scores can have more influence/impact on our lives than we want them to.

Do you know what yours is? There are three reporting agencies...

If you do know it, please don't disclose it. It's just that it's easier to obtain copies of credit reports than it used to be. However, what's on them can be difficult to adjust and a huge source of angst.

For those looking to obtain their credit info, the site you want is

www.annualcreditreport.com

There are others with similar names that will try to get your private information, sometimes at a cost. The link above is the one that was set up when the companies were required to provide the information to the public. There a good FAQ page there, too.

I believe everyone (including spouses) is entitled to one free report each year from EACH of the three -- Equifax, TransUnion and Experian.

Great information!

My husband and I know each other's scores from filing joint applications (ours are nearly identical). We're on the same page with finances. I guess some married couples don't know that about each other... are you saying that spouses can get a copy of their spouses report???

Thanks!

Yes, I know mine. Last time I took out a loan I asked the bank what the score was.

In addition to the free annual report, you are also entitled to a report if you get turned down for a credit card or loan application. If you know the folks at your bank, they can also give you the credit score.

Virgin-Island-Girl wrote: Great information!

My husband and I know each other's scores from filing joint applications (ours are nearly identical). We're on the same page with finances. I guess some married couples don't know that about each other... are you saying that spouses can get a copy of their spouses report???

Thanks!

No, I didn't word that correctly. You can't get information on your spouse. However, husband and wife can each get their own-- you are not limited to one per family. Thanks for clarifying.

chippewa wrote:

Virgin-Island-Girl wrote: Great information!

My husband and I know each other's scores from filing joint applications (ours are nearly identical). We're on the same page with finances. I guess some married couples don't know that about each other... are you saying that spouses can get a copy of their spouses report???

Thanks!

No, I didn't word that correctly. You can't get information on your spouse. However, husband and wife can each get their own-- you are not limited to one per family. Thanks for clarifying.

Thank youfor providing such useful information!

If you don't know it, you better. Also, you better check your credit report for discrepancies with ALL three credit agencies.

Isn't there a problem if you check your scores too often, though....I think I saw somewhere that it would actually lower your score if you did that?
Checking for inaccuracies would be a smart thing to do. I'm glad to hear you can do it for free once a year...but I'm always afraid I'll find something wrong. We got a credit card stolen years ago, and it was he!! to fix all that. Just call me "head-in-the-sand" dummy.

citcat wrote:Isn't there a problem if you check your scores too often, though....I think I saw somewhere that it would actually lower your score if you did that?
Checking for inaccuracies would be a smart thing to do. I'm glad to hear you can do it for free once a year...but I'm always afraid I'll find something wrong. We got a credit card stolen years ago, and it was he!! to fix all that. Just call me "head-in-the-sand" dummy.

I don't know exactly but requesting a report isn't the same as an acutal inquiry which I do know too many inquiries can affect it.

12vmanRick wrote:

citcat wrote:Isn't there a problem if you check your scores too often, though....I think I saw somewhere that it would actually lower your score if you did that?
Checking for inaccuracies would be a smart thing to do. I'm glad to hear you can do it for free once a year...but I'm always afraid I'll find something wrong. We got a credit card stolen years ago, and it was he!! to fix all that. Just call me "head-in-the-sand" dummy.

I don't know exactly but requesting a report isn't the same as an acutal inquiry which I do know too many inquiries can affect it.

I believe that's right. Obtaining your own score shouldn't affect anything, but other companies requesting the information too many times might. i.e., you're applying for too many credit cards, loans, etc. That's what I've read anyway, can anybody verify?

Checking your own credit score has no large impact on your score. Applying for new credit cards (even store credit cards) or loans does hurt; even if you are just trying to get a better mortgage rate. As one of my banking friends told me, if you are looking to buy a house and you want to get a competitive rate, get as many requests in as little time as possible. The reporting agencies are usually a few weeks behind, so filling out a loan application each month will actually increase your rate instead of decrease the rate.

Oh yeah, also Capital One and AMEX cards may hurt your credit score.

Capital One does not release your credit limit to agencies, but rather shows the highest month over the last X months. This can make it appear as if you are using your entire limit.

AMEX Platinum and Centurion cards have no credit limit. Therefore they too report the highest amount charged over the last X months.

Ah, yes, credit scores and what has an impact on it. The amount of activity does have an impact but a relatively small impact. The amount of credit that you have available has a small impact. The things that have the biggest impact are paying your bills on time and not filing a bankruptcy. Unless you are looking at getting a loan in the near term I wouldn't worry too much about your credit score as long as its decent. If you have score below 650 it can have a negative impact on things like insurance and some job applications but if you are above that and aren't taking out a loan or applying for credit it doesn't have that big of impact on your life.

It is important to check your credit report at all 3 agencies since they don't necessarily have the same information. It is surprising how many mistakes end up on your credit report. I discovered that my ex-wife's bankruptcy showed up on my credit report at Equifax because one of her bill collectors placed the remarks on my report.

Yep I am closing on my first house on Friday, so I needed to know it.

Nole Pirate wrote:Yep I am closing on my first house on Friday, so I needed to know it.

I hate to tell you, but its too late to change anything now.

im just assuming mine is zero....

land_shark3 wrote:

Nole Pirate wrote:Yep I am closing on my first house on Friday, so I needed to know it.

I hate to tell you, but its too late to change anything now.

Well aware of that. I started keeping track of it about a year ago to make sure once I found a house and started trying to find a lender that I would be fine.

What do you do if you see an old CC on there that shouldn't be there? Should you contact that company??

PIA wrote:im just assuming mine is zero....

You'd be surprised. My wife is $120k in debt with student loans, but because she has had a credit card in her name for so many years the score is actually fairly decent.

I had horrible credit. When I turned 18 I got all the credit cards they sent to me, ran em up and paid when I flet like it. When I got married and settled a bit, we paid them off. I got my credit report a few years later and it showed them all as never being paid. I had to write each company and show proof that I had paid (via cancelled checks). NAyway, finally it showed my accounts as closed but as of last year they were still on my reports, showing they went to collection, but had been paid off. We're buying a house the begining of next year and I am too scared to even look at what they may say now...lol