Online Credit Report.
Obtaining your Online Credit Report is now easier than ever. With Credit Free Report you can check your online Credit Report for free!
How to check your Online Credit Report:
To check your online Credit Report is as simple as filling out a form like this, and then get your results. Thats it! Once you have your Online Credit Report, we reccomend that you print it out. Printing our your report and bringing it with you when you apply for a Mortage or a car loan can be very helpful. The person checking your Credit Report is barred by law from telling you your FICO score. However, if you tell them what your score is first, your appearance as a prepared individual greatly increases your chances of getting the loan.
What your Online Credit Report Tells you:
You should know what to look for on your Online Credit Report. It does no good to get your Online Credit Report, and then not know what any of the information means! Getting the report is easy, now you need to know what the stuff on it means. To begin with, your Online Credit Report will contain much information about you - your current address (hopefully this is correct, if not, mail the issuing bureau to have it fixed). Your FICO score and your current debts, loans, mortgages, credit cards etc. You will also get a list of who has checked your report recently as well.
Of all of these, the most important thing on your Online Credit Report is your FICO score. This is what anyone considering loaning you money is going to look at first. Again, this is why it is always a good idea to have a printout of your Online Credit Report in your hand when applying for a loan.
Your FICO score is a number from 300 to 850. The higher the number, the better. A score below 620 is low, and a sign of bad credit. A FICO score of 620-690 is below average, but not terrible. A score of 690-740 is average, a score of 740-780 is good, and any number above 780 is excellent.
You should check your Online Credit Report once a year. This is generally agreed as the best series of intervals for keeping your score high, and not suffering damage due to black marks appearing on your report that you are unaware of.
What determines my Online Credit Report?
Your Online Credit Report is determined by a number of factors. If you are looking to improve the score on your Online Credit Report (and who is not?) you should pay attention to the following.
- 10% of your Online Credit Report is from the type of credit you have in use.
- 10% of your Online Credit Report is determined by New Credit
- 15% of your Online Credit Report is the lenght of your Credit History.
- 30% of your Online Credit Report is how much you owe.
- 35% of your Online Credit Report is the payment history of your bills.
As you can see from the above, having 35% of your total Credit Report being determined by how you pay your bills, this is the most important factor. Always strive to pay your bills on time, failing to do so can have a drastic effect on your Online Credit Report and your FICO score. Another 30% is how much you owe. However, how much you owe is a function of how much credit you have. If you have 5 credit cards, each with a $2000 limit, and only one of these cards is at its maximum, then only 20% of your total credit is used, and this is good. However, if you only have one credit card, and it is maxed out at $2000, then you have 100% of your total credit used, and that decreases your score.
The first step to fixing your Credit Score is knowing your credit score. The advantage of an Online Credit Report is that you find your score instantly, this allows you to negotiate more effectively for loans. And if you discover black marks on your Online Credit Report, you can start working on fixing the problems immediately. If you have not checked your Online Credit Report within a year, you should check it now.
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