How to get free credit reports online
The global credit crunch – brought on by unwise lending by providers and unwise spending by customers – has changed the face of the economy, and has forced credit providers to drastically alter their approaches to all types of lending, from credit cards to the mortgage market. Go here for a free credit report
As well as tighter constraints on mortgage lending, with providers limiting the number of packages available and being more strict with whom they lend to, the same can be noted in the loan market. Despite a slight reduction in interest rates in January (an example of lenders and providers making the most of a limited profit window), 2008 has seen a steady increase in interest rates on both small and large loans. On average over the last year, interest rates on personal loans have risen by 1.7%, meaning a loan of £5,000 will now cost you £386 more than the same loan twelve months ago. Free credit report info.
With changes to the lending criteria of so many banks and building societies, it’s never been more important to stay in control of your borrowing and correctly manage your finances. One of the increasingly easy (and popular) ways of doing this is by regularly checking your credit file. Free credit report info.
Under the Data Protection Act, credit reference agencies (the people the credit providers use to assemble your credit report and assess your rating) must provide you with a “Statutory Credit Report” for £2. A cheaper and easier option is to allow an Internet site to do the hard work for you, and to provide you with a similar report detailing your credit worthiness for free.
Entry Keywords: Start Your Business, Make Money Blog