Credit Checks

Written by Jessica Duquette
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Credit checks are a necessary procedure before making any significant purchases. Whether you are buying a washer and dryer and looking to open an account with Sears, or want to buy your first home and are in the market for a mortgage, having your credit checked is the first step in the loan process. The information provided by a credit report can help the lender understand your history and habits of purchasing and paying back debt.

Credit checks are easily accomplished with the help of the internet. You don't have to see a lender or bank in order to have your history pulled. By entering a few pieces of personal identification information, you can find out exactly what your FICO score is.

Credit Checks from All 3 Bureaus

Many online credit reports only pull data from one of the three major credit bureaus. While one bureau's information may give you snapshot of your history, it will not provide you with a complete picture. For more thorough information, invest in a trimerge credit report. These reports obtain their data each month from all three credit bureaus.

If your score is anywhere from 720 and higher, you are considered low risk. This means you have paid your debt on time and have a reasonable amount of open accounts. If your score is lower than 640, you may want to consider taking steps to repair your credit score. Without help you may find it difficult to open accounts or qualify for loans.

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Very true! Makes a chgane to see someone spell it out like that. :)