It seems every year the number of commercials for online credit monitoring and credit assistance increase. These companies claim to help you gain knowledge about your credit background, credit score and ways to improve your credit worthiness. For a nominal fee, you can have others research your financial history and determine how to get you back on track to credit success. These credit services may have advantages for some folks, but you could achieve success on your own if you take the time to learn more about your finances and how your spending and paying bills affects your credit score.
Sunday’s article in the Post and Courier Newspaper showed just how many people don’t know or understand their own credit score. The article showed that consumers with bad credit scores will pay more in interest and fees than consumers who achieve credit success.
Each year I log on to annualcreditreport.com and review my credit reports from the three major companies: Equifax, Experian and Transunion. Each credit report is reviewed to check for errors and to see how my financial spending is reflected on my credit portfolio. Viewing these reports may not be easy. It can be difficult to understand each section of the credit report, and how all the numbers affect your bottom line. Then, if you find a dispute, that resolution process takes time.
If you need help with understanding your credit report and how the little things make up the bigger picture of credit worthiness, South Carolina Federal Credit Union is offering a free seminar on March 24th. Leslie is the speaker. She’s also one of the bloggers here at the credit union. Want to know more? Make plans to join Leslie to learn what is included on your report, how to read the report and how your credit score is calculated. This seminar could be a key step in your quest for financial success.