In these new times of 'Instant Information', the credit reporting agencies are playing a critical part in everyone's financial future. Accuracy, and fast response are the quick-check tools of determining how good these agencies are. Mistakes are made constantly. Mistakes that mean the approval or denial of an application for credit of an individual, company, or corporation. Although not given the level of critical importance that they play, these agencies can control the financial future of almost anyone on the way up.
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Credit is a tool. Like a hammer. It performs a function. How much credit you have and how good your credit is, is like how big and how good your hammer is to get the job done. The problem is, it takes alot of data to compile a credit rating - both old and new - and the people who input this data must be accurate or they can ruin a credit rating.
Getting down to facts, I have been with a company called CREDENTIALS for a few years now and I like them alot. THEY KEEP YOU INFORMED for a nominal fee. I like that alot! Here's the picture:
1) Someone (Joe Blow - that you don't even know) wants to check your credit. They apply for a credit rating on you. Within 24 hrs. CREDENTIALS lets you know that this someone has applied to check your credit - and they give you his (or his company's) name. No charge.
2) Someone (this one you probably are aware of) files against your credit for some reason. This is called an item of "Negative Information". Same deal - they let you know who, when, and why. No charge.
3) QUARTERLY you receive a 'Quarterly Notice' report - giving you any and all activity affecting your credit rating. How reassuring to see (in big, bold-face type) the words: "No negative information was posted".
4) As a member you may call any time (7/24) and get a free credit report that is current within the last 24 hrs. If you do this the day before you go somewhere to make a purchase requiring credit, you know there will be no delays for you.
For all this (the most important of which is peace of mind), you pay a nominal, annual fee (1 payment). I also keep all my quarterly reports so that you have a chronological 'story' of your credit history. This also prevents some credit manager somewhere from saying: "I'm sorry but you have a past credit incident which prevents us...." If there has been a mistake, you have proof - with your past reports from CREDENTIALS.
Something to think about if you don't already have a good, personal credit agency. They have an #800, they're always open, and with an information interview, they'll assign you a membership # - and you're on your way.