Checking YOUR Credit Report and FICO Score

When potential lenders want to know whether or not to lend you money, give you a credit card, or finance that new car, they turn to your credit report and FICO score to see what to do. Your FICO score and credit report provide a detailed history of your financial activities, allowing banks and lenders to better judge your likelihood of paying them back. If you take care of your credit and check it regularly, you will have no problem getting better interest rates and loan with favorable terms that suit your needs.
A credit report contains very detailed information on all of your current and previous credit cards, loans, and bills. More importantly, it show exactly how good of a job you have done and are doing when it comes to making all of your payments to these accounts. If you always pay your bills on time and are not over your head in debt, your credit report will be applauded by potential lenders.
A FICO score is a numerical representation of your financial standing, calculated by using a complexed formula containing your previous and current financial activities. This score ranges from 300 to 850, with 850 being the best possible score, and 300 being the worst. Your FICO score factors in your balances and payments to credit cards, utility bills, mortgages, car leases, and other loans. The higher your FICO score, the higher you will be held in the minds of potential lenders.
Keep Track of Your Credit Report and FICO Score
It is very important to frequently monitor your FICO score and credit report, particularly important due to the rise in identity theft and online fraud. Thousands of Americans are victims of identity theft and fraud ever month, many of which never even find out. Identity theft and fraud can drastically damage your credit report and FICO score, unless you detect the fraud yourself and report it to a credit reporting agency. By frequently checking up on your credit you will maintain a higher score and avoid any unwanted surprises.
Maintaining good financial status can be difficult and takes a lot of discipline and planning. However, it can be very difficult to gage whether or not your actions are actually improving your credit score as you have intended. When you check your credit report and FICO score, you will be able to see exactly how your financial actions are affecting your credit, allowing you to make any necessary adjustments and maximize your efforts.
How Do I Check My FICO Score and Credit Report?
Now that you are aware of how your FICO score impacts your finances, you may be wondering "How do I get a free online credit check?" Easy, To learn more about obtaining a free online credit report, visit http://freeonlinecreditcheck.googlepages.com/, an excellent resource on credit reports and your credit score. There are dozens of websites that offer totally free credit reports. There are so many, in fact, that it can be a little bit overwhelming when trying to decide which company to choose. Some things to look for when choosing a credit reporting service are: ease of use, customer service and assistance, detail of reports, accuracy of reports, and whether they offer to assist in repairing your credit score.