Do You Know Whats On Your Credit Report ?

It is important to know your credit rating for a number of reasons. Believe it or not there may be errors in your credit report, and it is essential that you repair them immediately.

It is a common practice for a bank or lending institution to check your credit, and within minutes they will know more about your financial background than you will. Is this something that is appropriate and to your advantage? No, absolutely not. It is truly a disadvantage for you when negotiating a loan.

Imagine that you are negotiating for a loan and don't know that you have bills outstanding or worse there may be errors in the report itself. Whatever the reason may be,it needs your immediate attention.

You have to remember that a bank bases its conclusions on whether to lend or reject your loan application on your credit information. A good report and you will have the cash for whatever you need. A bad one and you are not only negotiating to get the loan, your fighting to get a reasonable rate of interest. Worst of all with a bad credit report you are flat out rejected and away you go only to get rejected by others.

Suppose you know nothing about your own financial background and you are asking for a loan. For all you know you could possibly have bad credit, but you can count on the loans officer knowing it for sure. Who's in the driver's seat when it comes to negotiating the loan or a reasonable interest rate? Not you that's for sure. Put yourself in their shoes and you can see what the bank is thinking "Bad financial history equals a high risk loan". Your negotiating power and relationship are going south and that is something you don't want especially in your time of need.

The best solution is to know your background before you ask for a loan. Get your credit report so you know where you stand!

-Are there any errors? FIX them

-Do you have bad credit due to unpaid debts? PAY them.

Honesty is generally the best policy when dealing with the bank and acknowledging the problems whether it is an error or bad rating you can assure the bank that you are aware of it and it is being addressed and corrected as you speak. In that light you continue a positive relationship with your institution and your chances of getting the loan will increase.

It is important to know your financial background.

Chris Rodriguez is the author and webmaster for http://www.online-finances.com We offer pertinent financial information on home loans, car loans, student loans, debt consolidation, and other finance related topics. If you are looking for a loan, but are worried about your bad credit, we can help! Visit us at http://www.online-finances.com

Boston Globe
Ex-Credit Suisse brokers indicted on fraud charges
Financial Times, UK - 6 hours ago
By Joanna Chung in New York Two former Credit Suisse brokers have been indicted on fraud and conspiracy charges related to the sale of auction rate ...
Former Credit Suisse broker arrested in US Swissinfo
Former Credit Suisse broker charged with subprime-linked fraud in ... International Herald Tribune
UPDATE 1-FBI arrests ex-Credit Suisse broker Reuters
Sofia Echo - Reutersall 490 news articles

CEP News
S&P raises Nalco Co.'s credit rating
CNNMoney.com - 8 hours ago
NEW YORK (Associated Press) - Standard & Poor's on Friday upgraded its corporate credit rating on Nalco Co., citing bright prospects for the company to ...
S&P puts Fifth Third on credit watch Dayton Daily News
Credit rating soars in District 300 Northwest Herald
Starbucks downgraded to 'BBB' on weakening credit metrics - S&P Hemscott
CNNMoney.com - CNNMoney.comall 106 news articles

Report: $100M in tax credits for $307M invested
Bizjournals.com, NC - 6 hours ago
The report was based on surveys completed by 177 firms in Hawaii that received credits through the state’s Act 221/215 program last year. ...
Design firm helps clients find themselves Bizjournals.com
Life’s obstacles not tall enough for College Inn owner Bizjournals.com
State sets hearings on reforming Medicaid payment process Bizjournals.com
all 64 news articles

Indianapolis Business Journal
Federal housing tax credit has mixed benefits
Indianapolis Star, United States - 36 minutes ago
By Jeff Swiatek At Carpenter Realtors in the Indianapolis area, agents wear lapel buttons proclaiming, "Ask me about the $7500 tax credit. ...
Perk helping home sales Indianapolis Business Journal
all 3 news articles

Methanex to Present at Credit Suisse Chemical and Ag Science ...
FOXBusiness - 9 hours ago
... 2008 (MARKET WIRE via COMTEX) ----Methanex Corporation (TSX: MX)(NASDAQ: MEOH)(SANTIAGO: Methanex) will be presenting at the upcoming Credit Suisse ...

New York Times
Credit cards battered amid 'tsunami' warning
Financial Times, UK - 6 hours ago
Credit-card groups were among the key casualties as fears grew of rising defaults. American Express fell 5.3 per cent to $38.75 after Lehman Brothers ...
Bear Returns to Wall St. as Major Indexes Plunge New York Times
all 154 news articles

Mexican Banking Group Ixe In Credit-Card JV With JPMorgan
CNNMoney.com - 7 hours ago
(JPM) to set up a credit-card joint venture in Mexico . In a filing with the Mexican Stock Exchange, Ixe said its bank subsidiary Ixe Banco SA and CMC ...

When the Bank Closes Your Credit Account
Washington Post, United States - 11 hours ago
By Joan Goldwasser Q I received a notice from Capital One that it is closing my credit card account because of inactivity. If the company closes the account ...
Capital One Spurned Mortgages For Credit Cards - CFO CNNMoney.com
all 3 news articles

Bankers: Tighter regulations contribute to credit crunch
Bizjournals.com, NC - 8 hours ago
To the list of culprits behind the credit crunch, you can now add one more: stricter exams by banking regulators. Bankers and their attorneys say that ...

Fear factor: Obama, McCain and the credit crunch
Los Angeles Times, CA - 8 hours ago
... John McCain nor Barack Obama -- was dare to say how they will solve the most serious economic problem facing the country: the deepening credit crunch. ...
Obama, McCain, Fannie and Freddie: A Troubled Love Story Wall Street Journal Blogs
all 3 news articles

Wind Chimes and more...

Windchimes for great gifts!

Annual Credit Report and Free Annual Credit Report