Resolution: Manage Your Credit Score

If you plan on getting a loan for anything in 2008, you'd better take a close look at your credit standing. Lenders and creditors have cracked down on granting funds to borrowers with less than perfect credit scores. If your score is under 700, you should probably be a little concerned about how you'll get a loan for a car or home purchase this year.

The first step to managing and improving your credit scores is to know where you stand. Just like a doctor, you can't work to "heal" your credit without first knowing exactly what is wrong. Credit scores are complex, with five main performance categories impacting your results. You could end up damaging your credit by guessing what action needs to be taken (ie: closing your credit cards when you really should have worked on reducing your debt-to-limit ratio).

Luckily, there is an easy and very affordable way to see your credit performance. Credit.com's new Credit Report Card service lets you see your score range and gives you grades for how you're doing in each of the five categories. And the best part is it's absolutely free: no strings attached, no memberships to cancel, nada. Here is what one user reports:

The "Credit Report Card" generated by the use of your website is FANTASTIC! That you would be willing to generate someone's credit score range for free is really something to boast. Also, that you provide "credit score grades" and the reasoning for those grades is definitely something people can use to seriously evaluate their current credit rating and assist them with ways to improve said rating. I’m really excited to have found your website.
               — Francisco Torres, Student - University of Arizona

I personally like the service because I helped to make it! John Ulzheimer and I co-created the Report Card as an innovative educational tool for consumers who wanted to really understand how they measure up. Kick start your credit score resolution today! Click here to see your Credit Report Card online.

Emily Davidson – Credit.com credit expert and former TransUnion insider. Emily writes about credit reports, credit cards, loans and personal finance as the CreditBloggers.com moderator.

Comments

[AlexRedd]

It requires a Social Security number. Credit Lesson: don't provide personal information of this nature unless you're asking to be a victim of identify theft.

[EmilyPeters]

Good instincts! But in this situation, the form is secure (HTTPS), the company is VeriSign and Trust-e approved and has been in business for 12 years.

It's your call, but I can personally verify that your information will be secure.

[Gerri Detweiler]

I love this tool and have been recommending it. As to the security comment -- you can't get a credit file without providing your SSN. I feel confident recommending it too!!

[JohnUlzheimer]

The Credit Report Card is the only true free credit report and score summary on the web. No credit card needed!!