Hi ryden hardison president of champion strategies and spokesperson for shop, smart autos, giving you the consumers the best information that we can so when it comes to your automotive, purchasing or servicing needs you’ll be well oppressed.
Also we’re giving you general information of what’s going on in america in retail itself, as we look at this thing called covert 19.
So i’m going to pick up from we left off, and that was your credit score.
Your credit score.
So we talked about some of the basic things on the last one and how these three organizations rank and look from worst to best so continuing on.
If we talk about this credit score, where can i check my credit score well under federal law? You we, as americans, are entitled to one free credit report every year from each one of the credit bureaus now.
There’s some websites, such as credit, comma credit sesame, that’ll, allow you to check your credit score at any time, but whenever we check our own credit score of credit report or bank checks, our credit score to issues different pre-approved offers.
It’s called a soft inquiry when it’s done that way.
In other words, these don’t influence our credit report or credit score by you just checking to see what you can do once a year, whether it’s from any one of the big three that are keeping the score.
So what to learn about your credit score, experian transunion! All of these partners that do this find ways tips if you will to improve your score, if you’re trying to find out a way to increase it, but keep in mind when we apply for credit, whether it’s new credit card, a mortgage, an auto loan and a Lender issuing a credit check, it will also appear on your credit report and may influence our credit score.
This is referred to as a hard inquiry so once again someone outside of who you are when they check you take a ding.
You can check your score as much as you want.
That’s a soft credit.
It does not apply two different things.
In other words, i’m trying to get you to understand is that if you have too many organizations, companies that you’re dealing with and these people are pulling your credit a hard inquiry, if you will too many of these will raise a red flag for lenders according to One of our major sources, because they signal this – is a high volume of new accounts in a short window of time, so you’re telegraphing that there may be something going on some type of trouble in your life.
If you feel, though, that something on your credit report is false or accurate, you can contact the lender on file and then put in a dispute directly regarding what was on that credit bureaus report.
Now some of the things that can hurt your credit score is too many hard inquiries on your credit report.
If we have too many of these in a 10-day period, 20-day period 30-day period, i don’t care what you’re trying to get another credit card cell phone utility bill loan payment.
It’s going to affect your score.
That’s too many people checking it in the short window of time.
If a bill is 30 days or more past due the lender will report it as a delinquency to the credit bureau, which will stay on your credit report for seven years.
Our credit scores are also majority influenced by credit utilization rates, which are the balance to credit ratio for all activity on your credit cards.
Now, how can i improve my credit? The biggest way to improve your credit score are to pay off any outstanding debt.
Make future payments in full on time and keep credit utilization low? It is also important that you make sure that you’re not making too many applications for new credit cards at one time.
The bottom line, your credit score – is ever evolving.
It’s not impossible to improve a credit score.
It often takes just careful planning some diligence in paying your bills and keeping spending in check.
Now you may say that i know all of these things.
My question to you is: how come we’re not implementing those things as a society as a whole, we would be in stronger shape now, if you got something from this, we do.
Thank you we’ll be back again with another installment of shop.
Smart autos helping you the consumer with your automotive needs and what’s going on out there once again, brandon hardison president of champion strategies and spokesperson for shop, smart, auto saying as always imparting you go out and make a champion.