subject: Credit Score Report - Importance of Knowing Your Credit Rating [print this page] Credit Score Report - Importance of Knowing Your Credit Rating
In today's society, everything depends on a credit rating or report; such as buying a house, buying a car, or just simply trying to acquire a small personal loan.
It is very important that a person is made aware of he or she's financial rating because once a credit rating drops below 500, it is extremely difficult to be approved for any type of loan. Here are three suggestions one might be advised to do to maintain knowledge of a payment history report.
Aurora Lillo Editor of the "Credit Report And Scores" website -- http://www.CreditReportAndScores.biz -- pointed out;
"...First, there are several websites offered to the public that allow them to have constant supervision of a credit report. Many of them do charge a small monthly fee to have continuous access to the financial history report; however, it is always better to stay aware of one's payment history and rating than to be denied help with financial resources one day and not a have clue why..."
Secondly, Identity theft is becoming a more threatening problem than ever. All someone has to have is a debit card number or simply a name and address together can lead to mail being sent to another person with confidential information in it. There are several known Identity Theft Prevention Companies that with a charge of a small monthly fee to monitor an individuals bureau and report to that individual any activity, suspicious or not, to ensure then that any change made to the bureau was performed by the owner themselves.
Lastly, an individual knowing her or his' credit rating can save that person from the embarrassment of being denied financial opportunity at a bank or finance company. If a person so chooses to not monitor their personal report, or to have a Theft Prevention Company monitor it for them, there is still a chance for an individual to learn of their payment history rating. When an individual applies for a loan with a financial institution they can sometimes acquire their credit rating; however, with several institutions this may be a problem because some are bound under contract with a credit bureau to not release that information being as bureau's are not free to any one financial institution or individual.
"...Maintaining knowledge of one's credit rating is very important because of the many dangers of identity theft, and with as many opportunities as a person has to monitor their credit rating, there should be no excuse for any individual not to have full knowledge of what is on their credit rating and the report that makes that rating..." added A. Lillo.
Further information about how to get a detailed credit report including scores and as often as you want by visiting; http://www.CreditReportAndScores.biz
