Important Information About Your Credit

Powered By Our World Class Service!

What Does Your Credit Report Say About You?

Shockingly, many people have never seen their Credit Report! Not knowing what your credit report says about your finances may cost you more when trying to obtain a mortgage. Even those who pay everything on time might have an unaddressed credit issue that is hurting your credit! It is very common for incorrect information to be reported on your Credit Report and it is important  to identify any  issues and correct them before you apply for a mortgage.

Many of you have seen  "Free Services" advertised on T.V., The Internet, and through the Radio.  When you see an offer for a "Free Credit Report", IT'S NOT FREE and generally gives you a little information to get you to sign up for their services! However, under federal law, you have the right to obtain a free and secure Credit Report at  The top three credit reporting agencies, Equifax, Experian, and TransUnion are required by law to provide you with a free annual credit report, once a year.

Understanding Your Credit Report!

credit history

Your Credit Report comes down to a few important questions

  • What are your Credit Scores?
    Credit Scores are a numerical representation of a person's trustworthiness in paying back debt. Each bureau will present you with a credit score based on the data they have.

  • What is Reporting?
    The items that are reporting on your credit report include;
  • Credit Cards
    (Ex. department store, gas cards, or bank cards)
  • Installment Loans
    (Ex. Mortgage Loans, Auto Loans, Student Loans)
    Sometimes Rent
    Collections or Judgements

Some Items are not reported unless there is a negative occurrence. This is common for checking and savings accounts!

  • What does your History look like?
  • Credit history is a record of the "health" of each reporting credit line. This takes into account;

  • Payment History (35%)
  • Debt (30%)
  • Time Existing (15%)

Other factors of your credit history may include;

  • Account Variety (10%) - having a diverse set of account types, Installment, Mortgage, Revolving, Etc...
  • New Credit (10%)- These can show up from employment screening, Utility Providers, Insurance related inquires, and other credit inquiries.
credit rules
Your Scores Increase When:
Your Scores Decreases When:
the credit story

How to Fix Your Credit

Credit issues will not haunt you forever when you actively try to improve your credit. Lenders know that “life circumstances” happen such as illness, divorce, loss of job or accidents. The key is to show the lender that prior to the life circumstance you showed responsible use of credit and that after the life circumstance you re-established your credit. As you add new information to your report the old information ages. Scores will change gradually, as you change the way you handle credit.

Remember the older the trade line (credit), the less
impact it has on your scores.

Credit Report Problems?

Fixing credit reporting issues , such as incorrect collections showing up, late payments showing up when paid on time, active accounts that are closed, can be fixed. The key is to identify any issues and work toward having them corrected. As part of our World Class Service we can help you with that or if you would like to do it yourself you can call the bureaus at: call-

Equifax- 1-800-685-1111 or go to
Experian- 1-888-397-3742 or go to
TransUnion- 1-800-916-8800 or go to

For more Information, Take a look at our Credit Glossary!

© 2016 LeaderOne Financial Corporation. All rights Reserved.
Website by iLEADnow