The beauty of the New Year is the ability to wipe the slate clean; to start fresh and do what you maybe wanted to do the first time around. This is the perfect time for anyone who has struggled with their credit to take the bull by the horns and get down to making a real change. In fact there’s no better time of the year to order free credit reports and take a look at where you stand financially so that you can take the steps necessary to get into a better position.

Of course with the holidays around the corner most people are more intent on spending within their budget rather than giving any thought to the bigger financial picture. However once the holidays pass it’s time to get back down to business - getting a handle on the reality of your situation and moving on from there. So what should you be doing at the start of this New Year ahead?

Begin the habit of ordering free credit reports throughout the year. There are three credit bureaus and we are all allowed to order a free credit report from each of them once within every twelve month period. This means that you can order a credit report every few months - rotating through the credit bureaus - and still be within the limit. This also gives a well-rounded look at your credit by order free credit reports from each, as information can differ between them.

Take stock of your credit score and begin making changes to help increase your score. The best part of ordering free credit report is the fact that you can actually follow your progress and watch your score improve in response to your work. A credit score is more important than ever in this tough lending market.

More in the next post…

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After years of only getting offers for bad credit loans and credit cards for bad credit, more positive mail is finally starting to pour in. You’ve been working hard, using free credit reports to guide you. Those efforts have paid off.

While this is certainly reason to celebrate, an improvement in credit report scoring is no reason to let your guard down. As your track record improves, it’s even more important to tread with care and take the time to compare credit cards.

When offers come in, even if they are for secured credit cards, it is a good idea to carefully review the bottom line details. To compare cards and get the best possible one to help you in your quest to keep building up your rating on your free credit report, make sure to look at:

The interest rate – This is a biggie that most people do remember to do. You want to obtain the lowest possible interest rate and make sure it’s not just an “introductory” rate. Ideally, a solid low rate will last as long as your good payment history does.

The penalties – Some credit cards have very steep penalties for paying late or missing a payment. In some cases, that low interest rate can double, triple or even more if you are not on time. In a perfect world, you want a card with reasonable penalties.

Reporting status – Not all secured credit cards, for example, will offer reporting to the credit bureaus. To help rebuild or build credit, you want one that does. It probably isn’t worth your time to accept a card that won’t have a positive impact on your credit report.

If you’ve spent a lot of time rebuilding credit to enjoy a good free credit report rating, don’t wreck it by jumping too fast on offers. Take the time to compare credit cards to better position yourself financially.

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There aren’t crystal balls that will help you determine with 100-percent certainty what a bank or credit card company might say to an application. Still, a free credit report can come close. If you want a decent idea of your chances at receiving low interest rates versus bad credit loans, looking over your own history can reveal a lot.

You have the right to pull your own credit report at no charge at least once a year. This means once from each of the three major credit bureaus. There are also other locations that offer free credit reports, which enable you to get a clear picture of your standing on a more frequent basis.

If you’re tired of not knowing why you only get offers for secured credit cards, bad credit loans or credit cards for bad credit, it’s time to take a peek. When you have a report in hand, you’ll be able to see what lenders see. The information includes:

All outstanding accounts – A credit report will show you exactly what has been reported that you owe and to whom. It will also enable you to see all outstanding balances and the amount of credit allotted to your account. Even if your payment history is excellent on all accounts, having too much credit available in your name versus your income can actually hurt you.

Payment history – You will also be able to see how your payment history has been reported. This is an important area to review for any mistakes. You might, for example, have an account that you paid off a long time ago still showing as unpaid. A few phone calls will probably clear this up, but until they’re made, your credit will suffer.

When you pull free credit reports, you can see what lenders will learn about you. The knowledge can, in turn, be used to help you map out a plan for fixing any issues that appear. Take the right steps and you’ll soon find yourself having to compare credit cards for the sweetest deal.

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In this time of budget tightening, more people are examining their bills to determine where cuts can be made. When it’s time to do this on the home front, pulling a personal credit report can serve as an excellent guide.

While a free credit report won’t provide you a list of bills to “cut” per se, it can show you which ones to pay off quickly for maximum impact. Free credit reports will include information on a variety of bills that many people overlook when budgeting or budget tightening.
So, what kind of information can you expect to see when you look at a free credit report?

All current credit card accounts – You’ll get a complete picture of all open credit card accounts you have, the balances and the basic history on the accounts. Having this information can help you see which cards would be the easiest to eliminate from your monthly bill stack by paying off as fast as possible. A report can also show you why you might only be able to get bad credit loans, secured credit cards or credit cards for bad credit.

Clearing any issues up can change all of this and save you a lot of money in the long run. Before too long, you might even be able to compare credit cards before selecting an account to open.

Other loans – Car loans, mortgages and any other long-term type loan will show up in a credit report. While paying off these larger loans fast to reduce monthly outflow might not be possible, you will know where you stand when you pull a report.

Other bills – Sometimes other creditors report information to the credit bureaus. Doctors, hospitals and the like might have put negative marks on your history if you failed to pay a bill. Handling these if they appear in a free credit report can improve your standing down the road and help you save money later on interest rates.

Downsizing a monthly budget isn’t easy, but there are ways to make it happen. When a credit report is pulled, it can help you target bills that can and should be paid off as fast as possible to make a decent dent in the outflow of cash.

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When it comes to our financial status many of us are woefully in the dark. We can claim ignorance or even being too busy to gather the information that we need to get in the know, but the truth is that finding out what our credit report says about us is nothing more complicated than ordering free credit reports; something that can be done online in mere moments.

“Why bother?” some may ask. But the fact is that it is worth the trouble. And even more to the point is that it’s no trouble at all. Ordering free credit reports, of course, does not save you from having to face the information that is on the report, but at least the process itself of gathering the information is simple and convenient.

There is one important thing to remember, however, before ordering free credit reports; you have more than one credit report. Many people assume that a credit report refers to a general store of information that is held by one entity. Rather, there are actually three separate companies that hold your credit report – Experian, Equifax, and TransUnion. You must order a credit report from each company in order to get the full picture of your credit standing. Surprisingly not every credit report is the same; one company may have different information than another which is why it is so important to gather the facts from all three credit bureaus.

Luckily ordering free credit reports is easier than ever thanks to the Internet that has simplified the process down to ordering from all three bureaus through one central online portal. If you haven’t already ordered a free credit report – now is the time. Logon and get informed – all it takes is a few minutes of your time and you can be kept abreast of your financial standing.

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If you’re working hard to make ends meet, chances are you don’t think there are enough hours in the day to get everything done. Adding something else to your routine just might not seem feasible. If that “something” is including pulling a personal credit report on a regular basis, making the time to do so is worth the effort.

Getting a free credit report is a great way to keep up with a number of things that can impact your life now and in the future. These reports can tell you a lot more about your personal financial situation that you maybe even know. They can also tell you a few others important things.

There are a number of compelling reasons to take advantage of free credit reports. Here are three of the big ones:

They show you what creditors and potential creditors can find out about you – If you find yourself only being able to obtain bad credit loans or credit cards for bad credit, getting a free report is a smart move. Going over your own credit report can give you insight into what potential creditors are seeing and where your history might be lacking.

They provide you a way to improve your outlook – You cannot fix your credit standing unless you know exactly what needs to be done. A free credit report can serve as your guide to paying off old debts, improving income-to-debt ratios and more. As you rebuild, remember to not only pay off debts to improve your scores, but also to proceed with care. Even if your current standing demands the use of secured credit cards, it pays to compare credit cards based on rates and affordability.

They can help you fight back against crime – When you pull your credit report on a regular basis, you’ll have a leg up against fraud. These reports can help you spot criminal activity conducted in your name and put you on the path to clearing up problems as quickly as possible.

Adding something else to your routine might not be easy. If that “something” happens to be pulling your own credit report, however, it will be time well spent.

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While most people would probably rather not look at their own credit report in this economy, this is one of the best ways to protect against the fraud and theft that tends to rise when financial stability plummets. Taking advantage of a free credit report is smart on a number of different levels. Having the knowledge this type of report contains is a first line of defense against crime and it’s a great tool to use when trying to position yourself to come out of troubled economic times with both feet on the ground.

Pulling free credit reports is a move that many law enforcement agencies recommend for protecting against identity theft. When these reports are pulled on a regular basis and looked over carefully, you can quickly and easily see expenditures that have been made in your name. Plus, it is also very easy to see if new accounts have been opened.

In addition to providing personal protection against crime, a free credit report is also a useful tool for those with less-than-perfect credit. When reports are pulled and used, they can serve as a roadmap for improving credit standing down the road. Many individuals with financial problems who must now rely on bad credit loans and secured credit cards use their own reports to guide them in the process of fixing their standing. Finding old debt on reports and paying them off, for example, can make a big difference in eventual standing. So, too, can reviewing a report to see what accounts might be closed out entirely and settled.

Pulling a free credit report is one of the best ways to protect yourself from financial damage that identity theft can cause. It’s also a great way to find out what needs to be done to improve credit. If your concerns fall in the latter category, make sure to rebuild carefully. As you do, remember to compare credit cards closely for the best terms. Even credit cards for bad credit situations bear close examination.

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With the holidays fast approaching (didn’t the summer just end?) I am already looking out for those shopping bargains. The trouble with me is that I tend to lose my head when it comes to holiday shopping and can very easily get in too deep and face credit card debt that has me struggling all winter, spring, and summer. I have made some poor financial decisions in the past that have resulted in lowered credit scores and since dealing with that I made it a part of my financial routine to regularly order free credit reports so I can check in on reality.

Free credit reports keep me honest and keep my head out of the clouds. It may feel great to buy all those presents but when I look at my credit report and see a late payment from several years prior I know just how far financial repercussions can extend and how much they can impact my life. Looking my credit report straight in the eye allows me to tell the truth about my finances and when you are operating within the truth you tend to make much better, more responsible decisions.

So it has become my tradition to order a free credit report from each of the three credit bureaus every year before the holiday season. For one, it’s important to check in with your credit report throughout the year so you can have a handle on this information. Additionally, looking at my credit reports before the holidays gives me the willpower to keep my shopping under control. I go into the holiday shopping season with a much clearer head and certainly a much more responsible mindset.

Free credit reports are important throughout the year and can easily be ordered online through one central website. But, for me, my pre-holiday credit report is the perfect way to keep my eye on the ball and end the year the right way.

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There are some subjects about which people are enormously uncomfortable talking to their kids and money is one of them. It doesn’t make much sense to me especially when you realize by not talking about money you are simply perpetuating the fears and discomfort. Kids leave home without any idea about what to do or how to handle themselves appropriately and there is a stigma and a shame surrounding money. This was the way that I grew up and, unsurprisingly, I left home with all of the hang-ups that I just mentioned. I was determined not to pass this on to my son and I started talking to him about money at a young age – even though, I admit, it was uncomfortable for me at first.

However, as the years passed we worked through it together and I saw that in talking openly and honestly about money with my son it was making the whole subject less scary – for both of us. I was learning right along with him to deal with money upfront.

As he got older we talked about more and before he left for college I talked to him about his credit report and how poor financial decisions can impact that report for years to come – even hindering his ability to get a car or a home (which had happened to me when I was young). I even ordered free credit reports from each of the three credit bureaus so I could show him what a free credit report looked like up close and personal.

We went over the credit report and the score and I told him how important it was to order free credit reports each year to protect himself against errors and even identity theft. I surely hope that this new attitude about money has given him the confidence to act responsibly and without fear.

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Some surprises are fun; some are not. Throw me a party, send me on a trip, give a great gift – all terrific surprises. But the surprises that are not fun…those that have to do with your credit report. Imagine the feeling of sitting with a mortgage processor – thinking that you are about to be given approval for a mortgage that will allow you to buy the home of your dreams (at an unbelievable price considering the market) only to discover that you are not going to be approved at all because your credit score is too low. This is what happened to me and let me tell you there couldn’t have been a worse surprise. I was stunned. I had absolutely no idea that my credit score was as low as it was and no idea that even half of what was on my credit report was there. Talk about being caught off guard.

In retrospect this seems ridiculous and it is undoubtedly my fault – completely. At first I was angry and demanded to know what each and every thing on my credit report pertained to; a process I had to go through with each of the three credit bureaus. This may have been an appropriate reaction but it was too late. Had I been ordering free credit reports all along I would have seen all of these things as they appeared and would have had the opportunity to argue them if I thought they were mistakes. As it was I was left to deal with all of the information at once and it was confusing and overwhelming.

By ordering a free credit report from each of the credit bureaus throughout the year you can have the information you need to make the appropriate decisions; don’t skip these important opportunities to get educated about your finances.

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