How to get free credit report Alabama

Before credit scoring, the task of obtaining a loan was slow and cumbersome, and often relied on the judgment of the person making the decision.

Since credit scores have become widely used, loan how to get free credit report Alabama processing has become quicker, fairer, and has had an effect on standardizing rates. Not all lenders however, base credit decisions solely on your FICO score. Many consider other criteria like job time, residence time, down payment and other factors to determine whether or not to extend credit. What is a good score? Scores range from the low 400s to well past 800. The higher the score, the better the credit rating. Most lenders use how to get free credit report Alabama a break of somewhere around 620 as the determining factor of a regular loan versus what is called a sub prime or higher-risk how to get free credit report Alabama loan. Some lenders will not extend credit to people with under 620 credit scores and other lenders will offer those loans, but at a higher interest rate. A few lenders do automatic approvals for people with 750 or higher scores with how to get free credit report Alabama no questions asked. Arent there several credit bureau agencies? Yes, there are three primary credit bureau companies: Equifax, Experian and TransUnion, and how to get free credit report Alabama each of them refer to their credit scores by different names. how to get your credit report At Equifax for instance, their score is called the beacon score. At Experian, it is the Experian/FICO score and at TransUnion, it is called Empirica. How do I find my credit score? You can purchase your FICO score right over the Internet at either www.how to get free credit report Alabama myfico.com or at the Web sites of any of the major bureaus. Besides your FICO score, you will get your entire credit report, details on how to read your report and ways to raise your scores. What makes up a FICO score? Generally, there are five criteria that make up the score. The biggest driver is payment history...how you have paid your bills.

Thirty percent of your score is based on the amount of money you owe lenders.

The length of your credit history makes up 15 percent. get credit report free

New credit how to get free credit report Alabama makes up 10 percent of your score and the remaining 10 percent is the types of credit you use. Things that have no effect on your score: race, religion, how to get free credit report Alabama sex or marital status, your how to get free credit report Alabama age, length of employment, job description, how to get free credit report Alabama where you live or any items reported as child or family support. How can you raise your how to get free credit report Alabama score? Paying your bills on how to get free credit report Alabama time helps dramatically, and is the biggest contributor or detractor to scores. Do not apply for credit unless it is absolutely necessary.

Many how to get free credit report Alabama mistakes are found and should be corrected immediately because they impact your score. By law, all three credit-reporting how to get free credit report Alabama agencies must respond and report back to you within 30 days if you challenge any information on your credit report.

How long does information stay on my credit how to get free credit report Alabama report? Good or bad, it is with you for seven years unless it can be proven that it was a mistake. search free credit report

What is an inquiry? This is the record of any person who has checked your credit report. This is another good reason to check your credit report yearly. A lot of inquiries will lower your how to get free credit report Alabama FICO score because it shows you are applying for new credit. (However inquiries will not drastically change how to get free credit report Alabama your score.) If you have inquiries from mortgage lenders or automobile dealers in a short period of time, this will not affect your score.