When you do not know what your credit score is, you should. This's one of the most rudimentary bits of information possible creditors wear when they determine whether or not you should qualify for a bank loan or credit card, for example. More than that, nevertheless,, the credit score of yours is also sometimes used as a way to gauge your reliability as a possible employee if you apply for many jobs, and for some other important situations.

If you've already shopped credit repair, you discover it's not cheap. credit repair companies and Attorneys are going to charge a minimum of $250, and the majority of them charge fees which are closer to $1000. You will find a great deal of loan officers that will send you to a credit repair company since the bank loan officer gets a "referral fee" for sending you to that company. I know this from experience since I get messages daily from various credit repair companies asking me to refer my clients with poor credit to them.

A credit report is used by potential creditors to evaluate the credit worthiness of an applicant. This particular article has a comprehensive record of just how much borrowed by you, the transaction history, amount of credit available and the length of your credit history etc. These records are compiled as well as maintained by 3 credit reporting agencies, Experian, Equifax and Transunion. The agencies use a credit scoring system designed by Fair Isaac Corporation called the FICO score to evaluate people.