Credit Reports Explained
By: Diane Tuman Content Manager | March 14, 2007
Today’s Wiki Wednesday Feature: Credit Reports Explained
If you’re a late-night TV watcher, you’ve probably run from the room screaming when the HeadOn commercial kicks in: HeadOn! HeadOn! HeadOn! But, according to Slate, the ad is pure genius. Another late-night ad that seems to be on a constant loop is the commercial for your credit report. But, buyer beware — this ad might seem like you can get a free credit report, but make sure it’s not a scam. (I know, I’m old-school… why don’t I have TiVo?)
OK, back to our regularly scheduled topic, which is: Your credit. Credit reports, credit ratings and FICO scores — what’s the difference? All of these terms are used interchangeably and can be extremely confusing. To help clear the air, we recommend reading Credit Reports Explained, which offers a pretty concise rundown on each term. To help further break down the confusion, here’s an article on FICO scores and another on credit reports.
Or, you can scan my own personal tips on how to keep your credit rating healthy:
- Don’t cut it too close with your float
- Don’t max out your credit cards (I know, duh)
- Pay more than the bare minimum on your monthly credit card bills
- Don’t depend on your significant other to pay bills that are in your name
Earlier this week, Greg Tracy over at BlueRoof Blog wrote a fantastic post on credit scores and credit reports. He really covered all bases very nicely and included a cool pie chart explaining what makes up your FICO score. Nice job, Greg!
OK, now I have to get back to understanding why HeadOn makes such a compelling commercial…
- Stumble it!
- Categories: Real Estate, Wiki Wednesdays, Zillow
Comments
4 Comments so far
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Cora Mendoza on March 14, 2007 2:18 pm
Your information on 42 Picasso Court being sold for $200,000.00 is very
INACCURATE. I went to the Contra Costa Library and investigated the selling price was $600,000.
The square footage is also incorrect.
The correct sq footage is 1476 sq.ft and not 1382 sq ft as you listed.
There are no townhome in the Gallery Walk with 1382 sq. foot. YOUR ZESTIMATE ON ALMOST ALL PROPERTIES ARE WAY OFF.
David G from Zillow.com on March 14, 2007 4:09 pm
Hi Cora —
Please reply with the zip code for 42 Picasso Court so we can investigate further. FYI — I just tried the yahoo e-mail address you left with your comment but it bounced back.
Jack Payne on June 16, 2007 7:18 pm
Credit reports are fine, as far as they go.
But, what is not usually explained is that Fraud Alerts, on the part of the credit bureaus, is volunatary–with but a 50% compliance.
–Jack Payne
http://www.sixhrs.com
Nick on May 15, 2008 1:28 pm
It is possible to get your free credit report AND score from the different companies that advertise on TV and throughout the web (freecreditreport.com comes to mind). You simply need to be aware that they are signing you up for a trial credit monitoring program and to cancel it within a month of getting your reports. I’ve yet to have any problems with any of them myself.