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Free annual credit report: let your mind credit ratings
Free annual credit report is a yearly summary of how the main consumer reporting companies (Equifax, Experian, and TransUnion) judge your credit worthiness. This report is accumulated by these companies who take information provided by your creditors such as lending institutions and even landlords. Moreover, this credit report specifically covers details like every credit card opened in your name, every loan opened in your name, a complete breakdown of your payment history, a report of all the companies that have reviewed your credit report and a line-by-line comparison of the information on each of the credit reports from the three credit bureaus
It also contains information like, Personal information, information related to credit card account, current balance, and previous accounts, bankruptcy, tax liens, financial judgment and credit inquiries etc. There are many occasions on which you are allowed to request a free credit report and score from the credit reporting agency used by a company. These occasions can be in the form such as you are allowed to request to see the credit report if a company denies you credit, insurance, or employment etc.
Free annual credit report can be easily provided to you once in a 12 month after your request. It helps you to maintain good credit score in the market. The credit report can also be downloaded over the Internet. There are huge numbers of online agencies deliver this free service. However, to find right agency to start accessing into your monetary standing, do some online research.
Hence it an advice, you must be careful when signing up for any of these programs in order to obtain your free credit score as there are other companies, which may or may not be scrupulous, advertising these same services and benefits. If you are persuade to use one of these services in order to obtain your free credit score, keep in mind that many of these companies are not as interested in getting your report as much as they are getting hold of your information. Just be alert that the company you are signing up with is one of these three agencies and not a separate company.
The importance of paying your credit card from Sears in time
The Bad and the Ugly
One of the leading credit card companies, Sears has had a massive list of defectors based on its unexplained penalty rates on late payments. Like many credit card companies, it has become a nasty trend to increase interest rates due to late payments, without any particular due process. Granted, these credit cards are useful, and highly necessary, but taking advantage of its clients is in really bad taste. A sears employee confessed on how an applicant applies for one card then ends up getting three, all in the name of boosting sales. Its a nasty trend which essentially moves to caution on the risks of taking credit cards without proper consultation.
A sears card holder does have a bunch of perks to look forward to though, occasional promotions, zero interest rates, plus other perks that come with the card. These are the kind of things that a sears card holder can take advantage and pounce on. It’s not all doom for card holders, seeing as it does have its fair share of purchasing advantages. The problem only comes in when you’re let on a payment, in which case it’ll cost you, big time!
So what are we looking at here? The idea is to know the specifics before you sign anything. Don’t pull up monthly payment plan that you can’t keep up with, and before you get a card, make sure you specify to the sears employee that you want one and not three. Be extra attentive to the fine print, that’s how you end up digging your own grave. The plan is to be constantly aware of your financial health, and your ability to keep up with your payments. Also keep in touch with any of the sears employees to know if and when they change the due date for your payments. A late payment, even if you weren’t informed of the change in due date, may cost you from around $25 to as much as $39.
Avoiding late fees is a full time job, even for the ones who are never late! The plan is to keep reminding yourself that if you’re late Sears will screw you over! If the given due date is giving you a hard time, then change it to one that is more convenient and that coincides with your pay plan. Then keep a low balance, an average late fee is about $26, keeping a balance of under $100 significantly reduces that figure.
So why is it important to pay in time?
& 61656; After two or three late payments, your sears card interest rate goes up.
& 61656; If you fail to pay up then you automatically become high risk, then they’ll ultimately reduce your available credit.
& 61656; Decreased credit means decreased credit score. This means your likelihood to get credit goes lower with each penalty you incur.
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Sears is no different from other card companies; it’s a good investment, as long as you pay up in time.