Good resource for facts about your credit score
Your credit score plays an important role when you apply for a mortgage or other type of credit.
That’s one of the reasons I encourage people to review their credit report at least once a year. You want to make sure there are no errors on your report and that there has been no fraudulent activity on your accounts, which would show up on your credit report.
A great place to begin to understand your credit score and credit report is “Building a Better Credit Report,” a valuable guide from the Federal Trade Commission. I received an email from the FTC the other day saying they had recently updated the guide.
Did you know, for example:
- Your credit score may be affected by the amount of your down payment on a mortgage loan, and your income?
- You can put a freeze on access to your credit report if, for example, you’re concerned about hackers opening fraudulent accounts in your name?
- An employer must get your permission to get your credit report?
These are just some of the useful credit report facts you can find in the guide. If you’re in the market for a mortgage, auto loan, or other credit, or just want to learn more about your credit score, I recommend you read or download the report on the FTC’s website.