Your personal credit score can be very important when seeking employment, obtaining some types of insurance and getting a business loan. Whether you are starting a new business or looking to expand a business, chances are you will need to obtain a loan to fund your plans. Personal credit scores are a major factor in being approved for business loans. It is recommended you check your credit report quarterly. Look for errors in reporting and possible fraud or identity theft. Correcting items on your report can be time consuming so it is important you keep up with the changes on your reports.
You can request a free credit report and also an estimated credit score online but, this score will not be as accurate as your actual FICO score that a lender will use. You can use the credit report and estimated score to give you an idea of your credit position and help avoid being blindsided during a loan application process.
Below is a list of resources you can use to obtain your credit information:
- Free Annual Credit Report
- Annual Credit Report Request Form (FTC.GOV)
Annual Credit Report Request Service
PO Box 105281
Atlanta, GA 30348-5281
- Estimated Credit Score (NOT the actual FICO Score)
REMEMBER – If a website advertising free credit information asks for a credit card for identity verification, you are most likely going to be charged for something. Maybe not the credit report or score info but most likely something you agree to in the fine print. If a site asks for credit card info, walk away.