Why You Should Check Your Credit Score Every 3 Months

by Shelton on May 13th, 2014

filed under Credit Scores

Were all pretty clear by now on the fact that our credit score is important, and we need to stay on top of it.

Those three digits can determine not only whether we get major loans like a mortgage but also the interest rate well pay. The difference between a high credit score and a lower one could translate to thousands of dollars.

So yes, we have to stay on top of it … but is this something we should check every day, or do we have a little more leeway?

How often do we need to check?

We recommend checking a minimum of once per year, advises Eric Adamowsky, co-founder of CreditCardInsider.com. Most people check their scores quarterly. While the average person might not have the end-date of the fiscal quarter etched into his brain, there is one other four-times-a-year occurrence we can use as a reminder to check: the change in seasons.

If youre working on rebuilding your credit and need to keep a close eye, adds Adamowsky, you might want to check once a month. Checking every day is a waste of time. Its really easy to become inundated with numbers and stats, but you need to give it time for the billing period to end and your payments to go through.

What should you look for?

Essentially, you should be evaluating two things:

Your baseline. If you dont know your credit score, its time to find out. Credit scores range from 300-850, and the higher the number, the better your credit. Generally, a score over 650 is considered good, and over 720 is considered excellent. Once you know your base, youre looking for …

Change. A point here and a point there isnt cause for concern, but if your score has dropped considerably since the last time you checked, or hasnt changed in response to major financial accomplishments like eliminating your student loans, there might be something amiss with your credit. To check your score, you shouldnt have to pay.Credit Karma,Credit Sesame, and Credit.com all offer scores for free.

Since sites work with different credit bureaus, Adamowsky recommends checking your score from more than one siteso you can look for inconsistencies as well as change. Ive seen scores that range 10-40 points across sites, he says. If your score is within a normal range, its OK, but if you have one around 750 and one at 500, it might indicate that something is wrong at that agency.

Its important to remember that the scores provided by free sites arent necessarily the exact scores a lender will see. These scores should be taken as a generalization, clarifies Adamowsky. In fact, because your scores are constantly changing to reflect credit activity and because each bureau calculates your score a little differently, these generalizations, while not perfect, are usually accurate enough to predict the estimated score provided to a lender.

Where do credit reports come in?

If your score is lower than expected, has decreased considerably or is inconsistent across sites, it may be time to pull your credit report.

A credit report breaks down the factors that go into your score.If you see a red flag in your score or just want to make sure everything is in order, its a good idea to check your report. There is only one site where you can get it for free:annualcreditreport.com.

While you can check your scores for free as often as you want through the sites listed above, youre legally entitled to one free report from each bureau once per year, and annualcreditreport.com is the only place to access it online.

Dem Brings in Country Crooning ‘Cash’ to Appeal to Ordinary Folk

by Shelton on May 13th, 2014

filed under Business Loans

If you are going to pay homage to Johnny Cash on the campaign trail, you could dress in all black, dabble with drugs, and challenge your opponent to a barroom brawl.

Or you could just stick with the music, which appears to be what Rick Weiland has done.

In a new video released by the campaign, Weiland, a Democrat, celebrates having visited every single incorporated town in South Dakota in his US Senate campaign by paying homage to The Man In Black’s “I’ve Been Everywhere.”

“Well I was on my way to meet with voters at the local coffee shop,” Weiland sings in the video.

When one of my opponents called and said, ‘Rick, when you going to stop?’
He said that listening to all what these voters say
ain’t going to mean a thing, you know my money is going to rule the day
Well I said you can take all your millions by the sack
But I believe the time has come for us to take our country back
Weiland’s band in the video includes his two daughters and his brother.

Weiland, a businessman and a former aide to former Senate Majority Leader Tom Daschle, is locked an uphill battle with a host of Republicans for a seat being vacated by the retiring Tim Johnson. And although polls say that Republican front-runner Mike Rounds, South Dakota’s former governor, would trounce Weiland in a general election, Weiland is running as a prairie version of Elizabeth Warren, stressing economic inequality and reigning in the power of special interests.

In an interview from South Dakota, Weiland said that it took over half a year to visit every town in his sprawling state, but that it should be a requirement of all candidates.