December 24,2008
-
What Are They Saying About You?, Pt.2 –
– If you find something wrong, don't wait.So, again, the point here is that it's bad news to wait until you really need something just to discover an error in your credit report and try to fix it on the spot. It takes months. You need not wait to find out. The government provides a requirement for you to receive a free credit report each year and from each of the standard credit reporting agencies (TransUnion, Experian and Equifax). The report will include all of your credit card account information and credit repayment history as well as extensive personal information like all the places you have lived, going back years. All those old credit cards you have forgotten about will still show up along with all the activity. If something is amiss like a typo in your SSN, you may find yourself being blamed for someone else's problems also. Even credit card denials will show up , too. These count against you.
Too many inquiries in a short time can also be a bad thing also. You will find in this report all of the various entities who have accessed your credit history; anyone that you've authorized to inquire for any reason. It could be for employment applications, health insurance purposes or any other form of business dealings you might be involved in. All of your negative credit card altercations will be there as well as a listing of all your credit card accounts in good standing. Even a prepaid Wal*Mart card used to buy cheap gas will show up here.
Make sure you scan these entries for accuracy in any cases that could hurt. Sometimes the good news isn't reported as it should be and needs to be cleared up. Credit card lenders probably won't just take your word for it. If you notice that expected bad news hasn't shown up yet, you have no duty to report it. Just let sleeping dogs lay where they are.