To begin conquering debt, you’ll need to understand what you owe and what you are paying to maintain your debt. The amount you spend on finance charges might surprise you.
This information is available on your statements, as required by law. But you'll get an even clearer view of your balances and payment history on your credit report. All it takes is a free Credit Score Review from us. Here’s how it works.
A Credit Score Review is free, and takes about five minutes. We’ll obtain a copy of your credit report and score. This is the same information we use to make a decision about a loan application.
Here are the types of information you’ll see.
- Payment history
- Capacity (maxed out credit can hurt your score)
- How long you’ve had credit
- The type of credit you have
- Accumulation of debt (number of inquiries and opening dates)
The credit summary profile has records from your creditors. It lists details about current loans. You can also see your total credit card balance, the percent of available credit, and your oldest credit line.
Under the profile is a list of score factors. They explain what is affecting your score. Maybe a late payment is dragging you down, or the credit cards are too close to their limits. The majority of the remaining pages list every loan or line of credit you have had in the past seven years.
At the end of the report is a list of inquiries. If you’ve applied for a credit card, mortgage, vehicle loan, or any other credit in the past 24 months, there will be a record of the company, the date you applied, and the type of credit.
This information can help you improve your chances of qualifying and getting a good rate on a loan or mortgage. It can also reassure you that your credit is accurate and there are no fraudulent accounts on your report.
We see thousands of credit reports every year. Our staff is skilled in providing information and guidance without judging past credit decisions. So if you are concerned about how your credit looks, remember that knowledge is power. Our only purpose is to see you improve, so we can help you reach your goals.