Becoming Debt Free in 2009

November 19, 2008

About Credit Reports

Filed under: Credit Report — ambercouric @ 10:13 am
Tags: ,

I think the one part of Dave Ramsey that I really got is that if you don’t use credit who cares about the FICO score.  I must say that I know nothing about credit reports.  The only time I have actually seen ours is when we applied for this mortgage about 10 years ago.  I know they have been pulled when we bought the last car and so forth but we have never gotten them ourselves.  So I have a few questions on what I should do.

First, I know to go to annualcreditreport.com to get the free report.  Should I get a copy of all three or should I just get a copy of one and then in a few months get a copy of the others?  Also, I think I read somewhere that you have to pay extra to actually get the FICO is that true?

I feel sure our report is good my main concern is making sure there aren’t any errors.  And I’m a little curious about our scores.

Any advice?

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6 Comments »

  1. You do have to pay to get your credit score, but at creditkarma.com, you can get the score for free.

    Comment by Kristie — November 19, 2008 @ 11:37 am

  2. I wouldn’t get all three at once, in fact I’ve heard Dave recommend that you pull one every 4 months so that way you can check your credit report for erroneous information more than just once/year because the credit reporting bureaus all have mostly the same information on them (although there may also be discrepancies which is why you definitely should look at each of them annually). Anyhow, that’s what I’ve heard Dave suggest.

    Additionally, I have always understood why Dave talks about not being concerned with your credit score (FICO), however for those of us who are not independently wealthy, then we certainly don’t want to do anything to purposely damage our credit score because, unfortunately, a lot of companies still use it to determine things like car insurance rates, etc. It’s a lazy way of doing business, but there it is. So personally, until I reach the status of independently wealthy, I’m still being careful of my credit score which I definitely think you can do without “worshiping at the alter of the great FICO.” 🙂

    Comment by Deb — November 19, 2008 @ 1:52 pm

  3. I just choose one at a time and spread them out throughout the year, the info on all three should be substantially the same. By checking 3 times a year you can make sure your identity hasn’t been stolen and there are no weird new accounts under your name. I’ve heard about creditkarma but haven’t checked it out yet, guess I should give it a whirl. I’ve heard that you can’t buy your actual score, it’s close but not exact. The only way to get the real FICO score is when you apply for a loan, then the lender is required to disclose the FICO to you. I may be wrong.

    Comment by Miss M — November 19, 2008 @ 2:45 pm

  4. You can pay for your fico score it cost me $7 to do it. Like the others said, you can get one copy of your credit report (less the FICO) free per year from each agency. If you’ve not pulled your report before, I would pull one report from each agency every 4 months, check it for accuracy and go from there. If you find a lot of incorrect information on the first report, you should pull the other two to follow up on the information.

    Depending on what your goals are for the immediate future, I would not worry too much about your FICO going up and down (hopefully just up). Concentrate on the debt payment, paying on time and the score will go up on it’s own.!

    Comment by bouncing back betty — November 19, 2008 @ 4:29 pm

  5. I’ll just agree with everyone else about pulling your report quarterly and second trying out credit karma. It’s not your actual FICO score but it will give you a good idea where you stand. They give you lots of stats on where you stand relative to others so you’ll know if your score is good or great or mediocre!

    Comment by Mary@SimplyForties — November 19, 2008 @ 7:01 pm

  6. Thank you very much for your post. Absolutely excellent information and very useful for me. Great done and keep posted. Looking forward to reading more from you.

    Comment by Edwin — November 21, 2008 @ 7:45 pm


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