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If you are looking t get a mortgage, a car loan or any kind of financing, even a credit card you will not be successful if you do not have a good credit rating and credit score. If you are applying to a bank or loan company for a loan or mortgage these institutions are hesitant to make a loan unless the credit report is pristine. Your chances or obtaining financing are better if your credit report and credit score are clean. In some instances an employer may want to see a clean and clear credit report and score when you apply for a job and the same applies to renting a home or an apartment.

Whenever you apply for a loan or other financing the company you are applying to will run a credit report from either one or all three of the major credit reporting companies. When they inquire about your credit report, that inquiry is registered on your report. Too many such inquiries will hurt your chances of getting the financing you are looking for. This does not apply if you are trying to get your own credit report, which is a good thing to do occasionally to avoid identity theft.

Getting your own credit report from all three agencies is important because if your credit rating and your credit score are low you can begin to clean it up and bring it up. You can get your report and score from a company that will get the reports free and help you monitor and regulate your credit. You can have financial freedom but you have to use proper management.

Some of the things you do can lower your credit rating, i.e. not paying your debts on time, paying less than the minimum amount required, having too many credit cards, keeping your credit card balance too high, using only part of your name instead of your whole name on applications, not keeping a close watch on your credit reports, and not letting your creditors know when you have moved to a different address. All of these things can give you a negative credit report.

Generally, if you have a low credit score you will not get a loan or any other financing however; if you do find a company that will give you financing then you can expect to pay a higher interest rate then if your credit score was high.

Avoid identity theft; check your free credit score report often. Visit creditscorequick – credit score report

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