Imagine you have excellent credit – then you can get the best rates

Why, because you are showing you are responsible with your money and are able to be more likely a candidate that will not default if a lender extends a loan to you.

A common question regarding your Credit Report is – Do you pay off that Credit Card every month or do you keep that balance carrying over month to month?

This is when you have to either show proof that you pay off your credit card monthly by showing the statement activity or that you are by default carrying that balance over.  You only need to show proof in the event you are paying it off monthly, otherwise, it is assumed by default that you are carrying the balance over, month to month.  So, in this type of a situation, it’s important to show proof in the event, this way the lender can determine if you already have liquid funds covering this which would mitigate the risk of them giving you a loan where you cannot pay it back.  It’s all about how much credit you have and how good it is.

A credit report is really important to keep clean and make sure all indicators are working in your favor, otherwise, the negative will work against you.

Credit Score is affected due to Liens that aren’t cleared?

If there are lien amounts that are paid off, but haven’t been cleared, then the steps to obtain a release from the county they were filed as well as then submitting the release to the credit bureaus will allow for those to be cleared, thus improving your credit report and credit score.

Credit Report has errors

If your credit report has errors, you would need to isolate the issue by contacting the agency in which has the error, request the release accordingly, and then send the release to the credit bureaus so that it will be removed from your Credit Report.

How is a CREDIT SCORE determined?

Based on the information in your credit report, lenders calculate your credit score so they can assess the risk you pose to them before they decide whether they will give you credit. The higher your score, the less risk you pose to creditors.

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What information does a CREDIT REPORT actually have about a person?

A credit report contains information on where a person works and lives, how they pay their bills, and whether they’ve been sued, arrested, or filed for bankruptcy. The Consumer Reporting Agencies gather this information and sell it to creditors, employers, insurers, and others for purposes of profiling each individual who has a Credit Report with their Credit Score. The most common type of Consumer Reporting Agency is the credit bureau.