The world revolves around money. It's a sad fact that if you don't have money, you have little control over your life. From where you live to what you eat, money dictates a lot about your quality of life. This is why having good credit is important.
Your credit rating determines the terms in which lenders will deal with you. Since most of us are not buying houses with cash, what they think matters a great deal. A couple of years ago, it was revealed that some auto insurance companies were using credit ratings to increase insurance rates regardless of driving history.
Credit ratings are scores based on your credit history. How you handle your debts is monitored by three agencies: Experian, TransUnion, and Equifax. Even though they each have their own system, if you are dilligent in repaying your debts, then you will have good credit. There has been a government law enacted that citizens are entitled to one free credit report a year. If you wish to order a free credit report, you can go to this site.
A credit report contains your credit history. You can dispute items you find on your report with whichever of three agencies made that report. Getting your credit rating costs money. Usually, if you are dealing with a lender, you can ask them about your credit score and they will give you a general idea.
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