Does Such A Tool Exist,

Everyone is aware of how important maintaining a good financial history is today. For this reason, many use a credit score calculator, a tool that will determine ones FICO score. Many online agencies have these calculators available, and they are typically free to use. Have you ever noticed that your FICO rating is never exactly the same with each of the three credit bureaus,

Well, there is a reason for this. Each of the three bureaus, Experian, Equifax and Trans Union use similar calculators as a means of determining your score. Your credit score will always vary slightly with each company. The more accurate the information you input into the calculator, the more accurate your results will be.

The fact that the top three bureaus give different score results proves that these calculators are never 100% accurate. There are a number of factors that will determine a person's financial rating. Credit history, bill payment history, outstanding debts and interest rates on credit cards are factors that determine a persons overall score.

These calculators can be used as a means of improving your finances if used as part of a strategic plan. For example, if you are planning to make a large purchase in the near future, having access to your rating will help you to be more mindful of your spending habits. Many people are not aware of what their score is.

This knowledge is essential, especially if you plan to eventually buy a home, purchase a car or open a business. Your credit history and score directly affect the interest rates that the bank will charge you on a loan. The lower your score, the higher your interest rate. Keeping track of debts, paying debts off slowly and continuously monitoring your finances is important for anyone with a desire to be financially secure in the future. Although score calculators just give you an estimate, it is never to far off from what your actual rating is.

The numbers given should be used as a guide just as your report should be used as a guide. Use this information to get on the path to improving your finances. You can have your dream home, dream car and dream life. It all starts and finishes with your finances. Continuously monitor your credit score and work on improving it so that you can get on the path to improving your financial situation today.

If you bought a stamp write it down, if you bought a cup of coffee write it down and so on. This diary will show you where your money is going. Once you have this diary you will know where your money is going and where you can save. All of the money you save should go to reducing your debt or building an emergency fund.

I suggest reducing your debt first, then building that emergency fund. An emergency fund consists of your monthly expenses times 3 to 6 months. By having 3 to 6 months worth of living expenses you can withstand a major life changing event. A life-changing event can consist of a job loss, a major medical problem and even unforeseen problems such as hurricanes or tornadoes.

These simple things will help you make good financial decisions and keep your credit score higher. Having good credit so important today to the economy and what many lenders use to determine whether you're a good risk or a bad risk. Take the time to monitor your credit report and dispute anything that is inaccurate. The Fair Credit Reporting Act gives you the right to dispute anything that is inaccurate, misleading or simply not yours. Once your report is accurate monitor it every six months and at least once a year and keep it accurate. Don't be afraid to hire a legitimate credit repair company if you don't know how or have the time to dispute the inaccurate information on your credit report.



You cannot erase the past credit report issues for usually 7-10 years. With a little work you can rebuild your credit report before all negative information is set to expire. Here is five easy steps to rebuild your credit report. The first step in fixing past mistakes is to get a current coy of your free credit score report. Don't be scared, got ahead and take the plunge order all three credit reports with all 3 credit scores.