Fairhaven Realty
Fairhaven Realty
Fairhaven Realty, a br of Lakeway Realty, Inc.

KNOW YOUR CREDIT SCORE if you don't like negative surprises!

Posted on February 3, 2010

Wednesday, February 03, 2010 finds the weather in Bellingham, WA lacking its Vitamin D potential. If you want sun (i.e. Vitamin D’s source), better go to Hawaii or Florida or…

AVOID NEGATIVE SURPRISES-BE AWARE OF YOUR CREDIT SCORE!
Are you thinking of purchasing a home, car or anything in the near future that requires a loan? If you don’t like negative surprises and rejection, you may want to check your credit score a few months in advance before applying. That way, you can clean up a low score before making application for the loan.

Typically, a FICO (Fair Isaac Corporation*) credit score costs $14.95, but FICO recently launched a new program where banks and other financial institutions can provide a free FICO score along with the monthly statement to customers who bank online. Because the program is new, a lot of financial institutions have not implemented it yet. Check with your banking institution or credit union to see if the program is up and running with them. If not, your query and that of others may help to hurry its institution.

If you know you have a solid FICO score (at least 700), there’s no need to pay to check your scores monthly. Once or twice a year is fine. At annualcreditreport.com you can get one free annual report from each of the three credit bureaus (Equifax, Experian and TransUnion). So, if necessary, once every 4 months, you can get a FREE report and stay on top of your credit score.**

*The Fair Isaac Corporation, known as FICO, created the first credit scoring system in 1958, for American Investment, and the first credit scoring system for a bank credit card in 1970 for American Bank and Trust.  
**Information gathered from February 2010 Orca Tales, Keep Credit Score High by Suze Orman/Costco Connection.

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Fairhaven Realty, a Branch of Lakeway Realty Inc. | 1100 11th Street, Bellingham, WA 98225 | Office: 360-676-8990 | Fax: 360-734-5109
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