It is very difficult today to get a mortgage, a loan or any kind of financing, even a credit card, without a good credit rating and credit score. Loan companies and banks are hesitant to make loans and mortgages unless the person applying for the mortgage or loan has a clean credit report and gives them a good credit score. Your credit rating and credit score is needed when you apply for a job, try to rent a home or apartment, or buy a car, as well as applying for a loan or mortgage.

Whenever you apply for a loan or other financing the company you are applying to will run a credit report from either one or all three of the major credit reporting companies. When they inquire about your credit report, that inquiry is registered on your report. Too many such inquiries will hurt your chances of getting the financing you are looking for. This does not apply if you are trying to get your own credit report, which is a good thing to do occasionally to avoid identity theft.

You should be aware of your credit rating so getting your credit report from all three of the credit reporting agencies is important. If your credit rating and score are low, then you should start your credit management process. You can get your credit score and credit report free from a company that will help you monitor and regulate your credit. Financial freedom comes with proper management of your credit report and score.

Some of the things you do can lower your credit rating, i.e. not paying your debts on time, paying less than the minimum amount required, having too many credit cards, keeping your credit card balance too high, using only part of your name instead of your whole name on applications, not keeping a close watch on your credit reports, and not letting your creditors know when you have moved to a different address. All of these things can give you a negative credit report.

If you are lucky enough to get financing with a low credit score you can be sure that your interest rate will be higher than it would be if your credit score had been higher.

Avoid identity theft; check your free credit score report often. Visit creditscorequick – credit score report