Some of our most read blogs pertain to demystifying credit reports and credit scores. In fact, when went live with Phroogal.com we found many questions being asked and added into the database pertained to credit.

The Top 12 Questions You Wanted Answered About Credit Reports and Credit Scores

1. What is a credit report?

A credit report contains information about your credit history and the status of your credit accounts. This information includes how often you make your payments on time, how much credit you have, how much credit you have available, how much credit you are using, and whether a debt collector is collecting on any debt you owe. (Read More)

2. Where can I get a free credit report?

So here it is, there is only one federally mandated site where you can access all 3 credit bureau reports for free. That site is AnnualCreditReport.com. You’re allowed access to each of your credit report once every 12 months. (Read More)

3. What is a credit report inquiry?

Credit inquiries are records created when someone looks at your credit information. (Read More)

4. Will requesting my credit report hurt my credit score?

No. Checking your own credit report is not an inquiry about new credit, so it has no effect on your score. (Read More)

5. How can I get access to free credit scores?

There are a number of ways to get access free credit scores. Yup, you don’t have to pay a service to find out where you fall in the credit score range. (Read More)

6. How do I build a good credit score? 

Building a good credit score takes time. (Read More) If you haven’t established a credit history, read How do I build credit with no credit?

7. Is my credit score good or bad?

First, let’s start with understanding that there are credit score ranges. Let’s look at FICO scores, which are commonly used by many lenders and one you’ve probably heard of the most. FICO score ranges from 300-850. (Read More)

8. What factors impact my credit score?

There are five factors that impact credit scores. The first is payment history that accounts 35% of your credit score. (Read More)

9. What can I do to improve my score?

Credit scoring systems are complex and vary among creditors or insurance companies and for different types of credit or insurance. If one factor changes, your score may change — but improvement generally depends on how that factor relates to others the system considers. (Read More)

10. How can I fix inaccuracies in my credit report?

You have the right to examine your credit file and to explain or correct information. The credit reporting agencies (CRAs) must investigate your claim and delete any information found to be inaccurate or no longer verifiable. (Read More)

11. How long can a reporting agency report negative information on my credit report?

Credit reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. (Read More)

12. Are there ways to repair my credit report and boost my credit score quickly?

Creditors aren’t required to report your loans to credit bureaus. If they do, credit bureaus are required to report accurate information. It’s your duty to make sure the information on the report is accurate. (Read More)

Visit the Phroogal Knowledge Base to learn more.

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The post 12 Questions on Credit Reports and Credit Scores You Wanted Answered appeared first on The Smile Lifestyle - Phroogal.