Get Your Free Credit Score and Good Karma
June 22, 2008 – 5:55 am
You can hardly pick up a newspaper that does not contain an article about the poor state of the economy. Whether or not you agree with the assessments that the economic sky is falling, pretty much everyone agrees that getting a home loan is a little more difficult these days. This is why you really need to keep an eye on your credit standing.
In a previous article (Have You Checked Your Credit Report Lately?), I told you how to get a free copy of your credit report from all three major reporting bureaus each year. It is important to monitor your credit report to help prevent identity theft and protect your credit rating. However, when it comes time to get a loan, it is your credit “score” that lenders really want to check out. Your credit score can have a significant impact on how much it costs you to borrow money.
Until now, you had to pay to find out your credit score. Fortunately, CreditKarma.com has changed all that by providing you with a free credit score from one of the three major credit bureaus. They can even help you monitor your score over time so you always know where you stand.
Of course you have probably been around long enough to realize that there is no such thing as a free lunch. CreditKarma makes their money through advertising. They provide you with special offers that are tailored to you based on your credit score. The offers may be useful if you are looking for things like a lower interest rate on a credit card or a special deal from your cable company. Check it out.
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