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Credit Report and Technology: How Changing Times Are

By Karen Anderson
Published: Sunday, October 4th, 2009

Even if your credit report is prepared by credit bureaus, you should not let them take full charge. Credit bureaus fail to deliver an accurate report about 76% of the time. All credit report tips should tell you that you get involved by checking your credit report yourself. If you find errors then you can dispute it and request for reinvestigation. However, you also need to get well-informed before you can check your credit report yourself.

Technology does have its merits. It made access to information easier and cheaper. In fact, looking for credit report tips is very easy with the help of the internet. More than that, it is now possible to check your credit report via the internet. You may, however, encounter lots of misinformation. One such misinformation is that it is recorded as an inquiry if you check your own record and thus lowering your credit score. This is not true at all. Checking your credit report for errors does not count as an inquiry.

Nonetheless, do not believe on the illusion that correcting an error is an easy task. The truth is that no one can legally remove accurate and timely information on one’s credit report. Even if you find errors on your credit report, you may find that you will need all the credit report tips that you can gather in order to get through the rigorous process of it all. Oftentimes, the same information will crop up repeatedly even if you had them corrected. You can have the negative information be permanently removed but you also need to go through the fires of hell and back.

Another wrong assumption that people make is that the people who take a look at their credit reports are purely lenders. If you have read your credit report tips correctly, you will know by now that your credit report is a public document. Anyone can look at your credit report. Even government agencies can take a look at your credit report to determine whether or not you are eligible for some government benefits. This is why it is very important to keep the information in your credit report accurate—you can be losing much if you do not act on an error. If you are looking to rent a place, a potential landlord can take a look at your credit report. These days, people have become extra careful who they trust their investments with. Landlords will have to look at your credit report to determine whether or not you will be a responsible tenant when it comes to paying your dues

As mentioned above, there are other people who might be interested in your credit report. Credit report tips urges you to keep your credit report clean in order for loans and credit lines to be approved easily. Today, even credit insurers evaluate you based on your creditworthiness. In other words, your premium may depend on how creditworthy you are. Their claim is that based on their experience, there is a tendency for drivers with lower credit scores to get into accidents.

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