I Have My Credit Reports. Now What?

TOP 10 TIPS ON CREDIT

Day 4 

Tip 4: If you already have a loan preapproved or in the approval process, it does not mean that you will get a final approval and be clear to close. Keep YOUR goal at the forefront of the loan process, not the loan rep or the bank's goal for themselves. Stay on top of the process so that you make sure you cross the finish line and get the funding you are seeking. This brings me to scenario #2 that I mentioned in my last blog post. You have a loan in progress, you want to get that final approval, and the money or credit you desperately need for yourself or your business. 

Scenario #2

Start by having the bank or lender send you a copy of the credit report that they pulled on you in house. Some lenders can and will, while some will not or still insist that they cannot send you a copy of your own credit report. Either way, try your best to get a copy from them. You want to do this because all credit reports are not the same. There are only 3 credit reporting agencies, but there are a ton of different credit algorithms that are running behind the screens. Especially, when it comes to the credit score system and your credit scores. If you can get a full copy of your credit report from the lender, take that, read it, and cross reference it against the personal credit reports you already pull for yourself. 

​​Here at some suggested credit reporting agencies to use:

1. https://www.experian.com 
2. https://www.creditchecktotal.com/
3. https://www.identityiq.com/
4. https://www.smartcredit.com 
5. https://www.annualcreditreport.com/

*Come back to our blog for a new tip for the next 10 days."
Next, we will address Scenario #3 - My loan has been turned down due to my credit history.