Double-Checking Credit Reports with Credit Counseling in San Antonio

Good credit scores mean that applicants would have an easier time in loan applications and premium payments. Scores are usually determined by checking one’s credit report. An article published by the London Evening Standard on November 29, 2013 details why it is important for a person to regularly check his or her credit report, and implement credit repair or credit counseling in San Antonio if necessary.

Check and balance for lenders

Credit reports contain a lot of information that has anything to do with a person’s spending history. It is through these reports that lenders weigh their decision on whether they would grant a loan to an applicant or not. Scores can be affected by paid collecting accounts that haven’t been removed, so it is imperative that one remove paid accounts with the help of a reliable service.

Lenders look for proof that you’re a reliable and responsible borrower. They weigh up the relevant information they have at their disposal – largely based on your actual credit application, any information they already have on you (for example if you are already their customer) and your credit report  from a credit reference agency like Experian. Usually, a higher credit score means you’re seen as lower risk – meaning you’re more likely to get credit, and at better rates.

Identity theft and misinformation

Having one’s credit report regularly checked will ensure him that his credit score is safe. Wrong information should be dealt with immediately as it can have a detrimental effect on one’s credit score. Watching out for dubious accounts under one’s credit report should also be taken note of. Corresponding with a reliable service that provides credit repair or credit counseling in Austin is encouraged, to catch any anomalies. The article says:

If you do find anything that needs correcting, contact the relevant lender and ask for an amendment. Even small details like the way your name and address is recorded could have a significant impact. Checking your credit report may not be at the top of your list of recreational pastimes but it could end up saving you money.

Constantly checking one’s credit score is tedious work, but it will ensure that there won’t be any nasty surprises when the need for loans arises. People interested in learning more about the mechanics of credit reports can approach services like Credit 360 Consulting to learn more.

(Article Excerpt and Image from Why should you check your credit report?, London Evening Standard, November 29, 2013)

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