In the first quarter of this year, Credit.com released an Ultimate Credit Report Cheat Sheet on its website. Yes, consumers have a tool to reference when viewing their credit chronicle. The Ultimate Credit Report Cheat Sheet was built to kill the misunderstanding that can come when consumers see various markings, colors, terminology and more on their report pertaining to loans, credit cards, and public records (if so) they are and were accountable for. What I found most unique about the Ultimate Credit Report Cheat Sheet was that it broke down each element of a credit report. The guide even took things further as it comprehensively explained what each element is, why it matters, and what you can do about it.
Upon first viewing the cheat sheet you will notice four headings labeled potentially negative items, accounts in good standings, requests for credit history, and personal information. After clicking on one of the four choices, you will then be taken to a mock credit report with a key including symbols and information hyperlinks marked by green circles stamped with a lower case letter ‘i’ in which you can mouse over for definitions or tips. To the far right of each section other than personal information you will find advice boxes giving you insightful information pertaining to your credit in specific matters of life. On that note, here are some additional features of each section.
Potentially negative items – What I found to be helpful when viewing the website’s take on potentially negative items was how the examples of each type was exhaustive in the amount of particulars it offered. Whether it was giving a substituted name, configuration, or location of listed aspects on a credit report, I was endowed with what to look for when viewing my credit report for adverse notifications.
Accounts in good standing – In this section it was good to be able to see examples of the kind of debt that can be helpful to you if you pay your bills on time consistently and over a long time period. Many people fear having debt as they assume that it is for either those who cannot afford things or that it will take away their money. However, the cheat sheet’s example of what a rightful account should look like is very encouraging towards thoughts of having a loan and building a good credit report and score.
Requests for credit history – You would be surprised to know that there are people who are checking your credit without your permission. But, the cheat sheet helps you to see that you do not have to be in the dark as you can not only know who but where the credit inquiring agency or business is located.
Personal information – Last but never the least, you cannot hide your identity when it comes to credit. Though you should never feel the need to, the cheat sheet shows you that you are being tracked all the way down to your address and phone number. Therefore, you might as well be a faithful borrower as lenders who have access to your report can find you.
I highly invite you to view Credit.com’s ultimate cheat sheet for yourself and gain a more in depth understanding of what to look for on your credit report. While there, get yourself registered and set up an account on the site to better monitor your credit as a whole for the future.