How much do I need for a good credit score?
Different loan programs have different credit score requirements. One loan may require 680 for the best possible rate while another may demand 740. Because credit requirements differ it pays to speak with several lenders to find the one with the program that will best meet your needs at the lowest rate.
As a matter of good financial planning, it’s also worth checking your credit report (a “report” is different from a credit “score”) three times a year – especially in this era of identity theft. Look for outdated information and factual errors. Such items could be unfairly holding down your credit score and thus your ability to get the best possible loan. If you see something amiss, contact the credit bureau immediately and ask them review the matter.
To see your credit report without cost, for free, go to AnnualCreditReport.com. On this site you can obtain –at no cost — one credit report every 12 months from each of the three major credit reporting agencies. If you order one credit report every four months you can check your credit reports three times a year with no costs, no extras and no other programs or services.
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Syndicated originally by Content That Works and posted with permission.
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