Checking on your credit report
- Image by jessica mullen via Flickr
Don’t allow your world to be turned upside down by fraud.
Keeping up with your credit report is a good thing for many different reasons, especially when you are a property investor and some of these are covered below.
Financial lenders get printouts of your credit file whenever you seek additional finance, whether it is for a credit card increase or for a mortgage on real estate. Your credit file lists any changes to your credit status for the last 5 years.
It will show if you have applied for credit cards, had increases, been turned down for credit applications, refinanced property, put anything on hire purchase and so on.
If you intend to purchase property this year it could be advisable for you to look up your credit file and you can do this at MyCreditFile.com.
If you are in no hurry you can make an application for free and it will arrive in approximately 10 days, or if you require it immediately you would need to pay for it and that is currently $32.95. This would be sent to you within 24 hours.
In today’s world of fraud it is a good idea to get a statement on a regular basis just to make sure that no-one is accessing your financial data anywhere and running up bills which you are unaware of. There has been wide publicity about copying pin numbers at ATM’s and that is only one of many ways that fraud is instigated. Credit cards and online banking are two other common access points of your details for fraudsters so be aware as it could affect your whole credit record if you are targeted.
Should you have the ill-fortune to have a fraudster set you up, it can be a sole destroying set of events to clear your good name and get your credit rating back again. The sooner that anythink like this is discovered the better.
Filed Under: Property Investment Tips
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