Credit report score free Baton Rouge

Here are the seven most dangerous myths that need to be dispelled: Myth No 1: "If you handle your finances responsibly, your credit scores will take care of themselves." Fact: A credit score is not a financial-health score. It doesn't measure your income, assets or financial savvy. There are credit report score free Baton Rouge some behaviors that may be good for your wallet that aren't good for your scores. Keep in mind credit report score free Baton Rouge that credit scoring formulas have one primary purpose: to help lenders gauge the likelihood you'll default, based on how you handle credit. If you stop using credit or use it in a way credit report score free Baton Rouge the formulas don't like -- using only one card, shutting down a bunch of accounts or maxing out your cards, even if you then pay them off in full -- your scores could suffer. 2: "Checking your credit hurts your credit scores." Fact: Checking your own credit reports and scores does not affect your scores. A credit check could hurt you if you asked a friend at a bank or car dealership to pull your credit credit report score free Baton Rouge reports. Such transactions probably would be coded as "hard" inquiries, or as applications for credit, which could ding your scores. annual credit report free credit report But checking your own credit is otherwise a non-event. This persistent myth is particularly destructive, because it discourages people from knowing what's going on with their credit reports and scores. Many reports contain serious errors that result in your being turned down for a loan or paying a much higher interest rate than you deserve. You need to visit AnnualCreditReport.com at least once a year to view your free credit reports from the three bureaus and dispute any serious errors. If you'll be in the market for a major loan, such as a mortgage or an auto loan, you'd be smart to buy your FICO scores from myFICO.com to see how lenders are likely to view your application and get tips credit report score free Baton Rouge from improving your numbers.

3: "Asking for lower limits will help your credit." Fact: Having sizable credit limits is a good thing for your scores, as long as you don't use them to run up debt. view credit report free Lenders like to see a big gap credit report score free Baton Rouge between your available limits and the amount of credit you're actually using. A lower limit reduces that gap, which can be bad news for your credit credit report score free Baton Rouge scores. Of course, if you can't trust yourself not to use your available credit, the damage to your credit scores may be the least of your worries. Otherwise, though, you probably should leave your credit limits alone. 4: "credit report score free Baton Rouge You need to carry a credit card balance to have good scores." Fact: You don't need to be in debt or pay a penny credit report score free Baton Rouge of interest to have good credit scores. Your credit reports and scores don't "know" whether you're carrying a credit report score free Baton Rouge balance or paying it off in full every month. That's because the balance reported to the credit bureaus typically is the balance from your last statement, not what was left over after you got that statement and paid the bill. So you might as well pay in full and save yourself the interest. This myth encourages people to carry unnecessary debt, putting them at the mercy of credit card issuers and eroding their financial security. get your credit report online I'm dept free and already have all the "Stuff" I need. I was told I should utilize my credit cards more to build credit...but....so far I have had no trouble getting by. I travel for fun which is pretty much the only time I use them and life is good.

I invision evil little trolls in a dark cavern, somewhere, just cursing my ability to function outside of the credit system. Think about it, credit scores are only important to the lender or the people attempting to get the lender to lend to them.