mymoneykarma - credit score - monitor your credit report

Lenders use your credit score to evaluate whether you will repay your debts responsibly or not. A high credit score would make you a worthy candidate in the eyes of lenders, whereas a low credit score could easily hinder your chances of getting credit. A good credit score can open up a lot of possibilities. It can help you to qualify for the best APR when you borrow money, and it can influence lenders to consider you creditworthy. Landlords, teleservice providers, and even cable companies consider your credit score when you apply with them for a product or service. You must know how you can increase your credit score and improve your credit health. Go through our tips to boost your credit score. Pay Your Bills on Time : The one thing that lenders are always worried about: will the borrower repay the money on time? If you pay back your balance in full on time, you are considered a reliable borrower. Make payments on time for all your accounts - not just your credit card bill...

Your credit score tells potential lenders how trustworthy you would be with a credit or a loan. Every individual has the facility to check their credit report from time to time. While some do not care about keeping an eye on their credit report, it is important that you develop the habit of monitoring your credit at least once in a year . Here are a few common errors that you must look out for: A new address or phone number that is not yours Error in the spelling of your name Unknown accounts owned by someone with a name that’s similar to yours The same debt or payment failure note listed multiple times Incorrect dates Mistakenly reported delinquency or late payment False record of the current balance Incorrectly recorded credit limit Closed accounts that are marked as open Accounts appearing various times with different creditors listed Unauthorized accounts Statements in which you are an authorized user, but you are marked as the primary user

Reasons Why You Should Monitor Your Credit Report :   Here are a few common errors that you must look out for: A new address or phone number that is not yours. Error in the spelling of your name. Unknown accounts owned by someone with a name that’s similar to yours. The same debt or payment failure note listed multiple times. Incorrect dates. Mistakenly reported delinquency or late payment. False record of the current balance. Incorrectly recorded credit limit. Closed accounts that are marked as open. Accounts appearing various times with different creditors listed. Unauthorized accounts. Statements in which you are an authorized user, but you are marked as the primary user. Why did my credit score dropped ? There can be a few surprising but very pertinent reasons for a sudden fall in your credit score . Let us dig deep into them. Old and Inactive Accounts Have you ever found an interesting promotional offer in a shopping mall or a retail outlet and applied...