Tuesday, December 26, 2017

Monitoring Credit Score and Credit Report

It has been a fact that having bad credit may have bad impacts in the interest rates when you want to apply for the next loan. It affects your financial so that you will never be able to land your ideal house, plan to buy a car, or even lease an apartment. Credit score and credit report are the ‘image’ that you have financially. Thus, people really pay attention to their credit score and credit report. 

Is Monitoring Credit Score and Credit Report Really Needed ? 

Credit report is the whole summary of your history of your repayment account. It has 3 digit numbers around 300 to 850 that is counted from a formula that I did not really know exactly. Here are a few things that affect the credit score. 
  •     Type of credit: It includes all accounts you have such as the credit cards or auto loans. Actually it does not really matter what type of credit you have. Sometimes the company wants to know what kind of credit you have as the database of their personal information. 
  •      Payment history: It includes the payment you almost do whether it is way before the due date or exactly on the due date. In this part, it clearly shows the payment you did. If you pay the loan late for times then it gives bad record for them. Then the company will think twice or even thrice to give you credit. 
  •     The amount of credit: It includes the limit of loans or debts that you are allowed. When you are declined, the credit score drops.

The worst case is that there are some people who like stealing the credit cards and use it carelessly by using your name. in order to prevent this, monitoring credit score and credit report is highly recommended. The word monitoring means you will be able to watch your credit card statement thoroughly and whenever there is something odd, you will notice as well. If you find something that you think you have never done that before, you have the right to use law to back you up. 

If you think that monitoring credit score and credit report is something impractical to be with, there are some companies which will help you finding the detail of your bank account. In fact, for hiring this kind of service you need to pay for around $650 for a year. If you think that this amount of money is still worth to use, you can continue having it since it brings you many things to solve with. Instead of losing thousand or million dollars, spending $650 seems to be much cheaper anyway. 

For me personally, monitoring credit score and credit report shows what people often ignore related to their personal credit cards. What they think the company can handle is apparently not really their personal matter. That is why when you do not want to take care of your personal credit score and credit report, you will get the results by yourself.


  1. I think I have never seen such blogs ever before that has complete things with all details which I want. So kindly update this ever for us.
    Yola blog

  2. Thanks for sharing this informative article here. Maintaining a good credit score is not an easy task but your article makes it easy. If you are looking for the best Private Loan With No Credit Check, visit basicfinance.com.au


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