CNNMoney rates Credit.com as one of the best websites for personal finance questions
Written on February 22, 2010 – 4:04 pm | by admin
A credit score has become more important than ever when it comes to things like trying to get an auto loan or better mortgages rates.
And, with credit tightening, lenders are looking for people with higher credit scores as they try to limit the risks involved with letting consumers borrow money. As a result, people may wonder where they can go to get an idea about how their credit history stands.
Recently, CNNMoney.com released a list of the top 20 websites related to personal finance. Included in that list was Credit.com, which was picked by the news organization as a good place for consumers to learn about their credit standing.
Credit.com features a free service called the Credit Report Card, which pulls a record of a consumer’s credit report. In order to do so, people have to provide some information, including their name, Social Security number, current address, past address and income.
Once the consumer gives that – and creates an account with Credit.com – they will see an overview of their credit report. CNNMoney said that the credit inquiry is a “soft” one, which means it won’t affect a consumer’s credit score.
The Credit Report Card divides up a person’s credit history into the categories that determine their credit score. Those include: payment history, debt usage credit age, account mix and inquiries.
Through combining these, the Credit Report Card provides a cumulative grade that ranges from A to F. Like school, a score in the A range is the desired goal.
Consumers who use the service can update their information every 30 days so they can see if they have made any progress through things actions like paying off debt or staying current on bills.
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