Free credit report check South Dakota

So if your credit needs repair, keep as many accounts in good standing as free credit report check South Dakota possible. You may not recognize the names of your creditors as listed on your credit report. It will help to know that "I" stands for installment loan, "R" stands for revolving credit, and "M" stands for mortgage. If you get your credit report and see unusual names and can't match them up with any of your accounts, do not hesitate to call the credit bureau that reported it in fact, do it immediately. Only if you know who is reporting what can you address the validity of free credit report check South Dakota the entry. And of course, if you find out "who" and you're not familiar with the company, you need to file a protest immediately. You could be looking at a case of stolen identity. Realtors and lenders are almost as bad as computer tech people at tossing out words and phrases you don't understand. The funny part is, sometimes even they don't know what those words really mean. govt free credit report It's not really a word, but the initials that identify the score given to your credit rating. A few Realtors and a few lenders have some idea of how those scores free credit report check South Dakota are reached, but they probably can't tell you what the letters stand for. They're just the initials of the Fair Isaac Corporation. So now you're wondering what or who a Fair Isaac is, right? Bill Fair was an engineer, and Earl Isaac a mathematician. In 1956 they formed a consulting and decision management service, and in 1981 devised the credit scoring system now known as FICO. Under their system, free credit report check South Dakota each of a set of free credit report check South Dakota details about an individual's free credit report check South Dakota financial history is scored and given a weight, based on free credit report check South Dakota the past performance of others whose financial history is similar on that particular detail. best site for free credit report Among other things, the system gives a score to: The length of time an individual has had and used credit The Existence of bank accounts The number of recent credit inquiries Debt to income ratio Debt to available credit ratio Bill paying history Lenders believe that by applying this compiled score, they know free credit report check South Dakota the statistical likelihood that a person will pay his or her debts. It must work, because FICO has become the standard, and this publicly traded company is a giant in the world of finance. With over 3,500 employees on 5 continents, FICO has an annual revenue of over $800 Million.

Contrary to what some might believe, FICO is not associated with the government.

In addition to providing credit scoring, FICO still provides consulting and management services.

If your FICO score is over 720, you'll have an easy time getting a loan or at least you would have before the current financial crisis.

If your score is under 600 you'll be considered a poor risk, and in today's climate probably will not qualify for a mortgage free credit report check South Dakota loan. business free credit report If you do, you'll be charged a higher rate of interest and will free credit report check South Dakota likely need a larger down payment.