Check Your Credit Rating!
Here are some free sites where you can check your credit rating
USA
In the United States, a resident is permitted by law to view their credit report once a year at no charge by visiting the website AnnualCreditReport.com. The individual's "credit score" information is available for an additional fee from each of the three credit reporting agencies. In addition, the Fair Isaac corporation sells FICO scores directly to consumers using data from Equifax and TransUnion.
Your creditworthiness, or ability to pay your debts, in the USA is measured by an arbitrary number system. In this system the higher the number the better your is considered credit worthiness.
The credit score you have is based upon an analysis of a persons past credit history. How well have they paid their debts? How much credit have they requested.
There are three major credit bureaus in the USA. Equifax, Experian, and TransUnion. All lenders of credit, such as banks and credit card companies for example, use credit scores to evaluate the potential risk posed by lending money to you and to mitigate any losses due to bad debt.
Using such a credit score, a lenders determine if you qualify for a loan and at what interest rate, and what credit limit.
The Fair Isaac Corporation, known as FICO, created the first credit scoring system in 1958, for American Investments, and the first credit scoring system for a bank credit card in 1970, for American Bank and Trust.
Each of the three credit bureaus can have different information about any particular person, and so there are a lot of different credit scoring models in use. An individual might have, then, several different credit scores at the same time. A lot of lenders also use third-party credit scoring systems, such as the FICO scoring model mentioned above, or NextGen or VantageScore, and the CE Score, to evaluate the creditworthiness of a potential borrower.
Because a score does not take into account race, sex or ethnicity, it is considered to be the most objective and fair tool for lenders to use.
According to Wikipedia, "The Federal Reserve Board did a study that noted scores have increased the availability of credit and reduced the cost of credit. Scores have also proven to be very predictive in assessing risk."
The three credit agencies in the USA are:
Experian
Equifax
Transunion
All provide a free service
Canada
Canada operates on a similar basis to the USA with the two major credit agencies being
Equifax
Transunion
UK,br>
In the UK you have a stautory right to receive a copy of your Stutory Credit Report within 7 days of request and payment . You can also dispute any information you consider inaccurate and have any erroes corected within 28 days.
Under the Data Protection Act, a credit agency is permitted by law to charge you 2 pounds for each request you make for your Statutory Credit Report.
Experian Usually free
Equifax Free but you have to use a credit card and are charged monthly if you continue
Credit Expert Free but must sign up for a free 30 day trial.
Australia
In Australia the two main credit reporting agencies, are "Veda Advantage" and "Dun & Bradstreet".
People living in Tasmania can also contact the "Tasmanian Collection Service".
Here is a list of agencies one can get a free report.
Checkmyfile Free
My Credit File will charge you 32.95 AUD
Dun & Bradstreet They will charge you 30.00 online or free in the post, takes about ten days.
Savings Guide Free
Tascol For some reason people in Tasmania have their own.
Here you can check out the reviews of various debt consolidation companies
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