Understanding Your Credit Rating
by Jay Bush

You should always pay close attention to your credit rating. Your lenders place a high priority on your credit score. A low score will limit your future purchasing power when trying to receive credit for things like credit cards, car loans, and home mortgages.

Anyone that has been turned down because of their bad credit rating can tell you it is always better to be prepared and know ahead of time what is on your credit report. Sometimes it doesn't matter how good your intentions are. Bad things sometimes happen to good people. The credit bureaus themselves make mistakes. It is believed that 7 out of every 10 people have at least 1 error on their report. That alone should be enough to make most people want to find out what is on their report.

Most people assume that their credit report is accurate. Many find out after applying for credit that there are errors on their report.

The first step to improving you credit rating is by getting a copy of your credit report. By law everyone is entitled to one free credit report every year. You can also receive a free credit report any time you are denied credit by simply contacting the credit bureau used by the lender.