First steps for getting bankable is to know your report and fico
Chapter 6: Step 5
Go to myfico.com and pull your credit reports/scores.
Time: 15 min, day 2
Go to myfico.com and credit report. You need to know what is on your credit report and what your real FICO score is. After you finish the quick start guide, and set up your business plan, marketing plan and initiate business, we want to get right into improving your credit score! Don’t waist any time on this now, just get them, look over them quickly for inaccuracies and later we will talk more about credit repair and optimization.
Go to myfico.com and either apply for score watch. The link here provides a special discount and at the time of this article it only cost $4.95 to get your FICO credit score, your credit report and monitoring, and if you don’t like it you can cancel and it only cost you $4.95. It is a subscription (they have to make money some how), but for less than $5 you get a lot of value in that first month if you don’t want to keep the subscription.
Print and save them.
Look over them for 5 minutes to see what is bringing down your score. Later we will work over improving our secret weapon, our credit score! But it can take time, so start right now!
!IMPORTANT!! I use the myFico score Watch to keep an eye on my credit score without having to pay to renew the report and it gives me a . Everytime there is a change in the score it lets me know. It’s a great way to keep an eye on my credit and know where I am when it comes time to apply for loans. Everything in terms of lending in our industry goes around the FICO score (with very few exceptions and those exceptions run along similar lines).
Every time something changes on your credit report, you get details about it right away.
It tells you how it affected your credit (if at all)
It lets you know when you are in a new credit category.
It is a tool that lets you know when what companies report credit to your credit report. A huge tool in knowing how to pay bills to maximise your payments for improving your credit.
It doesn’t give you an updated full view of your credit report. You have to pay for a new credit report to do that. For that it’s probably better to use another service.
It is not very useful in helping you correct credit information or disputes. But there are free ways to do that if you are denied for credit.
More about credit in another blog when we address credit repair and optimization.