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Looking After Your Credit
It’s a good idea to check your credit with the three main credit-reporting bureaus at least once a year. If you see any inaccuracies, dispute them right away. It’s always better to correct your credit before applying for a loan.
Your credit score is based on your payment history and the amount you owe.
It is recommended that you don’t "max out" your credit cards. Ideally the outstanding balance on credit cards should be no more than 30-40% of the credit limit. If a credit report is requested during a limited period of time your score may go down. Requests in relation to getting a mortgage or car loan don’t count as much as requests for credit cards during a limited period of time. Credit bureaus and lenders realize the importance of shopping around for the best terms and rates for mortgages and car loans.
Late payments count against you. Make sure you always pay bills on or before they are due.
To understand some of the "Do's and Don'ts " of the loan process, please click on the link for our secrets to a smooth loan process.
Never take on more credit than you can handle.
TRANS UNION
PO BOX 4000
CHESTER, PA 19022
866-887-2673
www.transunion.com
EQUIFAX
PO BOX 740241
ATLANTA, GA 30374
800-685-1111
www.equifax.com
EXPERIAN
PO BOX 2002
ALLEN, TX 75013
888-397-3742
www.experian.com/reportaccess.com
