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3 Simple Ways to Use Online Credit Reports to Improve Your Personal Credit
Like most Americans you may be skeptical of why an unseen online agency would want to help you by checking your credit score for free. I mean, aren’t they just out there to get your money? The truth is, these credit checks can really help you, especially if you are trying to improve your credit.
First, by checking your credit online, you avoid dings, which lower your score. Many consumers are afraid to investigate their credit because they think their score might drop, putting them in even worse shape. This isn’t true with online credit reports. Thus, without dinging your credit, online sources allow you to check out your score, for better or worse.
Alternately, if you have been denied credit within the last 30 days, you can ask the credit bureau for a free report that won’t ding your credit. You do have to use a local reporting agency, which can take more time than using an online source. Most people go in person to the agency to request the report and then pick it up. Both of these steps seem quite tedious when compared to online credit checks.
Another benefit of online credit reports is the ability to see both good and bad credit you have on your report from the privacy of your own personal computer. No nosy bankers trying to get your a credit card or auto loan. Without sales pressure, you are less likely to get into more debt and lower your credit score.
Lastly, you can verify the accuracy of your credit. The online report will be taken from each of the three national credit bureaus. Occasionally you will see accounts that you dispute, which gives you the opportunity to contact the bureau. To do this, you must write a letter explaining exactly what is incorrect or disputed. The agency must investigate. When they contact the creditor, he has 14 days to respond or the item is deleted off your credit. A little known secret is that if the item is less than $500 or older than one year, most creditors won’t bother responding, whether your dispute is accurate or not. Disputing bad credit is the most direct way you can improve your credit. When your bad credit is reversed your credit score will increase. Most importantly, after your score goes up you have the right to demand that your updated credit report be sent to all those who have denied you credit in the last six months. Good news!
So, if you wonder how good, or bad, your credit score is, don’t be afraid to check it out online. The report is excellent information that arms you with power to change and improve your credit. Most people with bad credit don’t know much about how it gets that way or how to fix it. Your knowing both is a good start to improving your credit.
Apply Online For A Guaranteed Bad Credit Auto Loan Today
You can easily secure a guaranteed bad credit auto loan by just logging online and applying for an online auto loan. Your credit rating might make you wonder if it is possible for you to buy the kind of wheels that you desire. If you credit report is not so good, do not lose hope as all is not lost. There are many online firms offering competitive rates and terms for people who have a tarnished credit profile and aim to set it right, just like you.
Preparing To Apply For A Car Loan
The first thing that you need to consider will be your credit score. If you have planned in advance to purchase a car you might take some steps to improve your score as best as you can. This will help you secure the guaranteed bad credit auto loan at better rates and terms.
Get an updated copy of your credit report and verify the details. If the report is as it should be and is error free, you may fax it along with your loan application to get quotes from as many lenders as you can. If your score is really bad you may have to pay very high interest rates and make do with shorter repayment periods.
Choose The Right Loan
Do not rush to the first lender who offers you guaranteed bad credit auto loan but compare several lenders, get details such as what charges are applicable and the kind of interest rates that are applicable. A simple interest rate loan is recommended as it is much easier to repay. Check if there are any hidden clauses and if there are pre-payment penalties.
Consider your options and check if you can negotiate a better rate with the lender. Carefully analyze if your budget permits you to buy a used car or a new car. A new car may be priced higher but will be in top condition giving you the ease of no repairs. A used car may be relatively less expensive but may become a white elephant if the car is really old. Since you are offered guaranteed bad credit auto loan you may well select a new car rather than settle for a used car.
The online application form takes but a few minutes of your time as you need to submit only basic information such as social security number, name, age, address, telephone number, and details about your employment. The application is processed fast and you will get the quote within a few hours. You need not visit various lenders or face any one while securing a car loan with poor credit profile. Since you are looking up lenders online you can also use the online auto loan calculators available to help you determine the loan amount and EMI that you are comfortable with.
You can apply for the loan 24 x 7 and obtain hassle free loans quickly. If there is a co-applicant who has a better credit rating you will secure guaranteed bad credit auto loan at much lower interest rates than otherwise.