Financial Advice

Financial Advice

A credit report is a report detailing a person’s financial history specifically related to their ability to repay borrowed money.

 

3 Facts:

1. Identifying information, credit inquires, public records and collection items, and trade lines are contained in your credit report.
2. You get a free credit report once every year.
3. The three agencies for a credit report  are Experian, Equifax, and Transunion.

A credit score is a number calculated from your credit report.

3 Facts:

1. It’s sometimes hard to pin down. Some break from the 300-850 scale. The VantageScore ranges from 501-900.
2. Generally a good credit score is considered a 720 or higher.
3. Unlike your credit report that you can get at no cost you usually have to pay for your credit score.

Advice on Identity Theft: Don't give put any personal information, keep sensitive mail and credit/debit cards secure. You should check all bank and credit card statements regularly. If you know you're identity has been stolen notify the police and your bank so they can put a stop on the credit card.