How to keep your credit report cleaner
Keeping your credit report clean is paramount to your financial well being. This
is the first thing financial institutions check when you apply for a
loan and
employers investigate before hiring you.
So it is important to clean up your credit before you put in any loan
applications or look for a job. If you have filed bankruptcy, it usually stays
on your credit report for seven to ten years. There is nothing you can do about
getting that off until the allotted time. However, you can apply for new credit
after two years of filing your bankruptcy. You can even buy a new home and new
car.
When you do get new credit after a bankruptcy, it is your responsibility to
protect it by paying your bills on time because employers and financial
institutions will take that into consideration.Shopping for a loan
If you are shopping for a loan to buy a home or car, the consumer reporting
agencies are aware of that and so they list these inquiries into a group and it
is not held against you to lower your credit scores. If your credit is pulled by
three lenders within a three week time frame, that is looked at as one inquiry
for that particular situation.
Having a healthy and clean credit report is vital to creating a lifetime of
financial freedom. Why? Well, most people who have poor credit don’t get the low
interest rates that people with good credit do. They don’t get the jobs they
want due to credit issues.
The importance of your social security number
Each credit bureau identifies an individual by his or her social security
number. It is this number that is logged into their system and every time you
use your social security number for new credit, it is reported to the credit
bureau and a new account is created for you.
When a company goes to pull your credit, your social security number is what
they use to get all the information that they need. Your credit report says a
lot about you in the eyes of employers and financial companies. Therefore, if
you want to keep your credit clean means that you have to also keep your social
security number safe.
If someone gets a hold of your social security number, they can use it to apply
for credit and you will be responsible for paying for it. Therefore, it is
imperative that you protect your credit report and your social security number.
Get Your Credit Report - Clean Your credit!
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