During a shopping spree a few months ago, I opened several retail
credit-card accounts to take advantage of an immediate 10% discount on that
day's purchases. Surely this familiar offer was risk-free as long as I paid my
bills on time, right?
Everyone wants to have a credit report free of negative entries. Now it is easy to get a copy of your credit report free online. Your free credit report will definitely help you to maintain good credit. But, it does take some work to maintain good credit. The following tips are designed to help:
Identity theft: When someone takes an account number and/or personal information, and begins opening other accounts and running up bills you did not authorize.
If you are denied credit by an institution which bases its decision on the report of a credit reporting agency, you may request a free copy of the report from the credit reporting agency named, within 60 days of the notice of refusal.
Credit History Online: The human error factor has not been eliminated by the use of computerized records. Data can be entered incorrectly, or information from another file may be posted to yours. Payments made, may not be recorded. Checking the credit reporting agency records against your own, will point out any inconsistencies.
Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer.
Information concerning a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer; and
Inquiries made: Every time you apply for any kind of loan or credit, the potential lender makes an inquiry, which is noted on your credit history. If you apply repeatedly, or to several institutions at a time, it can make lenders wary of your credit history. You need to be sure that all inquiries were legitimate results of your own requests, and not unauthorized, which may mean the inquirer broke the law.
- Is the balance transfer fee more than the amount of interest that I'd pay on the transferred balance over the same amount of time?