Your Credit Report - Your New Best Friend
Contributed by Jorja Shepard
Your Credit Report in the 21st Century
The time is long gone when a late payment did not make it to your credit report. Our technology driven world makes possible for negative items to appear on your credit report in record time. With this technology comes a responsibility that you need to take very seriously. The ability to view and correct, if necessary, the information contained in your credit report is in place for you to take the driver's seat when it comes to your credit report.
The credit bureaus that hold your credit report are only reporting information that has been given to them. They do not generate the information. It is your responsibility to make sure the information contained in your credit report is correct. In our credit driven society, the information contained in your credit report is used for a variety of reasons ranging from obtaining credit to obtaining employment. Your credit report can be your best friend or your worst.
Credit Report Basic Training
There are some very basic rules to keeping a healthy credit report. Pay your bills. Pay your bills . Pay your bills. A minor oversight on your part today can result in a major problem very quickly. Your oversight could cost you thousands of dollars in interest when you shop for a mortgage. A late payment will be promptly reported to a credit reporting agency. Your credit score will lower as your interest rate will rise. Remember this basic rule - pay your bills.
