Skip to main content

Posts

Showing posts from February, 2013

Finance Fridays: Credit Reports

The first step in understanding your financial health is requesting your three credit bureau reports online at annualcreditreport.com. This site, which you can you use once a year for FREE reports, is connected to Experian, Equifax and Transunion. A credit report will display all open, closed and in collections accounts you have.

I cannot stress enough the importance of these reports. Print them and place them in a binder labeled "Credit Reports".

The first time I pulled my free reports, I had a lot of accounts in collections. My debt-to-credit ratio, the amount I owed compared to the amount someone was willing to give me, was bad. What boosts your credit scores, which I'll cover next week, is a good debt-to-credit ratio, as in more credit and less debt.

I have two people in my family with the exact same name - nothing to identify them apart but social security numbers. When they pulled their credit reports, several accounts were crossed. So, we disputed those accounts onl…