Delray Beach, FL (PRWEB) July 2, 2010
As we celebrate our nation's independence this July 4th, NationalCreditReport.com, a leader in credit report, credit score and credit monitoring services, reminds consumers that taking control of their credit score is a key step in gaining financial independence.
"We advise consumers to regularly check their online credit score and report because fluctuations in their credit can greatly impact many aspects of their financial wellbeing," said Samuel S. Ambrose, Vice President of Marketing and Operations for NationalCreditReport.com. "First, you must know how, where and when to check your credit report and score."
Things you need to know about your credit report and score for gaining financial independence:
1. What is a credit score?
A credit score is a numerical value that represents an individual's credit worthiness. This number is calculated by the 3 major credit bureaus (Experian™, Equifax™ and TransUnion™) and lenders use it to make loan decisions. A person with a higher score is more likely to be extended a larger line of credit or a lower interest rate.
2. How often should I check my online credit score?
National Credit report recommends that consumers check their credit report at least quarterly. There are many items that can cause your credit score and the information in your credit report to change. Participating in a credit monitoring service is a very simple and quick way for you to view your online credit score while also allowing you to proactively protect yourself against credit fraud and identity theft.
3. Will accessing my online credit score make my score go down?
No. Only inquiries from creditors or lenders can make your score drop, and even then it's usually only by a few points. Participating in a credit monitoring service and checking your own credit report is safe for your score.
4. What kinds of things can make my online credit score fluctuate?
Many variables such as making payments on time, keeping a longer credit history and paying off your credit card balances can help you raise your online credit score. On the other hand, making late payments, taking out several loans at one time and not noticing inaccuracies when you check your credit report can cause your score to drop.
5. What should I do if I find information in my credit report that I think is inaccurate?
When checking your credit report, if you find any inaccurate information you have the right to dispute these misrepresentations with the one of the 3 major credit bureaus that reported the item.
Since 2004, NationalCreditReport.com has specialized in providing credit information and credit monitoring services to consumers to help them understand their credit report and score. NationalCreditReport.com encourages consumers to check their credit report on a regular basis.