There is nothing more invigorating than knowing your financial blueprint. Knowing where you stand financially is a powerful first step in removing debt, increasing your credit score, investing in your future self and most importantly, it’s the first step towards piece of mind. For many people looking at their credit report is like pulling teeth and people are often scared of what they may uncover. I’m here to share how knowing the details of your credit report is personal power.
Earlier this month, I shared how viewing your finances and creating a budget is a necessary step in order to see how you spend your money. Once you have a budget in place, the next thing to do is print out your credit report from all three agencies Equifax, Experian and Transunion. What you may not know is thateveryone is allowed one annual free credit report, which includes your fico score. Are you sure you know where to go and what to look for once you have your report? Here are a few things to look out for while reading over your report:
Where to find your credit report:
- Are you a credit card user? If so, many creditors charge their users a small monthly fee for credit alerts, which advises when there’s fraudulent activity on your card. Often your credit card statement will highlight this charge from a third party company. What they don’t tell you is that this monthly fee also allow you access to their website and obtain your credit report and analysis profile for no additional cost.
- CreditReport.com, CreditKarma.com, MyFico.com and FreeCreditScore.com are all reputable third party credit agencies that provide through credit analysis, debt repayment calculators and your fico score.
- Go straight to the bureau for your score. Your fico score is a combination of reporting to all three agencies, so why not go straight to their sites and obtain your report. Find them at Equifax.com, Experian.com and Transunion.com
Your reputation is like a credit score. Everything you do can affect it -Michelle Parson
Now that you have your credit score and you know where you stand financially. Use this helpful diagramCredit Score & Fico Score Guide 101 to see what are your next action steps to establishing the financial future you can be proud of. It’s surely not too late to make a change. By printing out your score you have already transformed your fear into action. Can’t wait to see you guys back next month so we can continue the journey of securing a financially sound future!