Many people still don’t know that you can get a totally free credit report. However, there is only one place that you should trust to get this done online. There are companies out there that pose as the official place to get a free credit report. Many of them though do not offer the same information you can get elsewhere. Others aren’t truly free. Here are some facts you should know about getting a free credit report.
My Credit Sucks
So this weekend, I discovered that because I missed a single payment, all of my credit cards shot my interest rate on my existing balance to 33%. I immediately called the credit card companies. I got the usual runaround. “We’ll let you know in a few days.” When I finally get my snail mail telling me what my new rate is, it will probably only be lowered by a few points. So based on the advice I have been given, I have these choices:
1. Go through the credit union at my work and get a loan to consolidate.
Pro: Offer better rates than you would find at a bank.
Con: It takes a while to apply for a credit union, then I have to wait for the loan approval, if I get approved at all.
2. Go to a competing bank and secure a debt consolidation loan.
Pro: Quick answer and service.
Con: Don’t get a rate like you can get with a credit union.
3. Find credit cards that offer 0% or low rates on transferred balances.
Pro: Quickest and easiest method.
Con: Risk of getting roped into using credit more with a new card.
