Get Your Free Credit Report

Next in the calculation is the length of time you've had debt history. More time means more stability in many cases, but don't just put that card away in the drawer. You have to use it and time since last activity is an important consideration. Approximately 10% is Current Applications. The types of recent activity is an important factor in deciding your number. The worst types of debt are with jewelry stores and finance companies. Your credit report usually lists your credit lines that you have had for the past several years. This will include your current credit lines that you have always paid on time, credit lines that have been closed, and credit lines with problems. A credit line on your credit report can represent a credit card, debt collection, student loan, mortgage, car loan, or any other form of credit you received.

This is good as it closes the loophole that identity thieves have exploited. The 3 main bureaus want only people with previous identity that have been identity theft victims would be able to use security freezes. If it was not such a serious subject it would be hilarious, in it's ridiculous nature! It's like saying only victims of car crashes could wear seat belts. I really do sincerely hope this information get your mind ticking over and that it provides you with a few tips. I hope it provides you some good advice to think about when getting your credit report.

• TRW Credit Information, 505 City Parkway West, Orange, CA 92667
• Open mortgage balances
• Chilton Creditmatch Systems, 12606 Greenville Ave., Dallas, TX 75243
• Loan-to-value rations
• 620-659 Fair
• 660-749 Good

The steps to accomplish this are easy, and you can do it yourself so don’t waste money on a “credit repair” company that claims it can restore your credit for a huge fee. Myth: Credit Reporting agencies are required by law to keep negative items on your report for at least seven years. Actually, the Fair Debt laws state that after 7 years credit reporting companies are required to remove adverse reports - and nowhere does it say that these can’t be taken off earlier.

They'll also look at the applicant's credit score to determine his credit worthiness.

Each bureau has its own credit score. The score is based on each bureau's report. Equifax and TransUnion use FICO's scoring algorithm to compute their scores. Thus both have a variant of the FICO credit score. Experian uses its own proprietary scoring algorithm to produce its score. When a consumer applies for credit, creditors will pull up the applicant's credit reports to review their credit history. They'll also look at the applicant's credit score to determine his credit worthiness. Good reports and scores will usually lead to favorable lending terms, such as lower interest rates.