Have you ever really given thought to your credit report? Do you know if you have a clean credit report? Did you know that a clean credit report assures you of the ability to be able to receive credit cards or personal loans and financing? Whether you have a clean credit report or not can determine a great many things about what kind of financial outlook you can have.

A clean credit report is basically a credit report that doesn’t show any kind of delinquencies, garnishments, judgments or collections. It shows that you do have (or have had) credit extended to you and you have had the personal responsibility to pay your debts back in a timely and agreed upon manner. Having a clean credit report can go a long way in being able to finance a home or a vehicle, or to getting that credit card you may need to have in case of emergencies.

If you do not have a clean credit report, don’t despair. Even with bad credit, given time and the resolve to do so, you can clean your credit report up. If you have accounts that you know are past due, contact the companies and see if there is something, anything that you can work out. Can you only pay $25 a month and don’t feel they would accept it? Guess again.  Most companies will take whatever you can offer to keep from having to write off your debt and pay for it themselves.

A clean credit report also shows a strong work history and a lengthy residence history. If you can keep from changing jobs, do so. However, if there is a huge income difference, go for it. Credit companies do take that into consideration. Are you thinking about moving? Is it a necessity, or just something you want to do? By living in same place for a while, it shows that you have stability.

A clean credit report means that you have avenues of help open to you if you need them, or that you can finally go buy that new sofa you’ve been looking at. Better yet, it means you can send Jane off to college and finally have a spare room for that home office that you’ve always wanted to have.

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Categories: Credit Reports 101 , articles