Why Your Credit Report Is Hurting You

by : John Mcfadden

Your credit history report is one of the key ingredients that many companies take into account when deciding whether to offer you any type of credit. By not knowing what is on your report, you are basically flying blind when it comes to dealing with these companies.

A consumer's credit history will take into account almost any type of good or service offered on credit. This includes everything from loans to credit cards, phone and utility bills and even rent. If you have been late in paying any of these, it may have made its way to your report and it may be hurting your chances of getting similar services in the future or getting them on reasonable terms. If this is the case for you then what exactly can you do about it?

By knowing what is on your report, you can either negotiate now for better terms based services or you can take steps to improve your score so that you can negotiate better terms at a future point.

Knowledge of your credit history and the items that affect it give you power in negotiating for a better deal. The short of it is that you need to know what is on your report. That's the easy part!

Consumer reporting companies are legally obliged to provide you with a free copy of your credit report on an annual basis. This will give you everything you need to know about the items on your report that are affecting your score. All you need to do is contact each of the consumer reporting companies to get a copy of your free report (you can only get a free report from one of them every 12 months).

By having this piece of information, the power to negotiate for better terms on credit based services comes back into your hands.

You can then take steps to improve your score, either yourself, or by employing the services of a reporting company who will analyze your report and endeavor to improve your overall score.

In most cases, these companies can improve credit score quite a lot. If your report is hurting your chances of getting credit based services, then this is certainly something that you should consider doing.

With credit reports being such an integral part of getting goods and services in today's modern world, is it something you can afford not to do?

You need to take control of your credit history!