Monday, August 01, 2005
Free Credit Report: Info here
It was pretty painless to do. There are three agencies; from each one, you are entitled to a free report from each of them annually. I'm figuring on getting a free one every four months by rotating through.
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3 comments:
Worth noting is that just having your credit rating checked can have an impact on it. I'm not sure whether or not that applies to your looking at it yourself, and am too lazy to look for facts and specifics, when it's easier just to spout my half-baked notions, but it's worth exploring, just in case.
OK, so maybe I'm not that lazy. From the Experian web site:
Q: Do inquiries affect a credit score?
A: Careful study has shown that inquiries are an indicator of credit risk. Recent inquiries indicate a person may have outstanding accounts that are not yet part of the credit report. The more inquiries that appear on a borrower's credit file, the more likely a borrower may not be able to pay his or her bills as agreed. However, inquiries have a relatively small impact on your credit score. In a credit scoring model, there are other, stronger indicators of future payment performance, such as past payment history and use of credit. These indicators can offset an inquiry. Inquiries are rarely, if ever, the only reason for poor credit scores or being declined. They only become significant if there are other issues, such as late payments or very high debt as compared to income you include on your credit application.
How interesting. Do you suppose they provided such admonishments when they were charging consumers $40 a pop to have a peek at their own files?
Somehow I'm not too concerned about the effect my inquiries are going to have on potential creditors (especially in the shadows of my, ahem, other information).
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