Good resource for facts about your credit score

Cyndee Kendall
Posted by Cyndee Kendall
Mortgage Banking

Your credit score plays an important role when you apply for a mortgage or other type of credit.

Young woman seated near a window and using her laptop while glancing at a credit card.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.

Reminder: All comments are moderated prior to publication and must follow our Community Guidelines.

Submit an Idea

[contact-form-7 id="32" title="Share An Idea"]

You are leaving the Bank of the West Change Matters site. Please be aware: The website you are about to enter is not operated by Bank of the West. Bank of the West does not endorse the content of this website and makes no warranty as to the accuracy of content or functionality of this website. The privacy and security policies of the site may differ from those practiced by Bank of the West. To proceed to this website, click OK, or hit Cancel to remain on the Bank of the West Change Matters site.