Financial & Investment info - BKL Investments

The slightest imperfection in a credit report can derail a mortgage financing loan process. Your "FICO" credit score..the three-digit numbers that greatly determine how much money you can borrow, what interest rates you pay, what insurance premium you will pay, and even how employers and landlords view your application. This information is critical to your... financial life. The most important factor to any potential lenders is whether you will pay your bills in full and on time. A variety of open loans, such as, a mortgage, a car loan, and several credits card, can show that you are a responsible borrower that is paying back both large and small loans on time.

To see all the factors that effect your credit score, you should pull your credit reports from the three major reporting agencies; Equifax, Experian, and Transunion once a year. At "no charge". You can pull the reports all at one time or pull one report every three months. This way you will get a frequent look into your records. Whatever way you decide to pull you reports; look for errors, incorrect addresses,inaccurate information, and/or report any suspicious activity. Remember that the Fair Credit and Reporting Act empowers consumers to control their credit information. The three credit card bureaus must prove consumer's credit reports to be true and accurate.

When you pull your reports you will not see your actual credit score, which is derived from these reports. You will need to pay a fee to received the scores. The average American consumer credit score is 720.