Wednesday, December 30, 2009, 9:18PM ET - U.S. Markets Closed.
Why Are Credit Reports Important?
If you are applying for a loan or credit, records of your previous dealings with someone else's money are vital.
Whether you get that mortgage or credit card, or not, may depend on a network of credit reporting agencies that either share information with, or are owned by, three major credit bureaus. This report is often a critical factor in credit scoring systems that lenders use to issue credit cards as well as mortgages or other loans.
So, if you're considering making a major financial move it's a good idea to check your credit report to know where you stand. That way you can be aware of, and/or take care of, problems before they jump up and derail your plans.
If you find problems, or if potential creditors discover them, you can take steps to rebuild damaged credit and clean up that record.
If you've made mistakes in paying previous loans, bounced checks, made late payments or had other problems, you may still be able to reduce the amount of damage they will do to your credit with explanations or some basic repair.
Rates
See today's average rates across the country.
-
Loan Type Today Last Week 30 Year Fixed 5.31% 5.25% 15 Year Fixed 4.65% 4.66% 1 Year ARM 3.87% 3.83% 30 Year Fixed Jumbo 6.20% 5.99% 5/1 ARM 4.50% 4.28% 3/1 ARM 4.89% 5.02% Source: Bankrate -
Loan Type Today Last Week $30K Home Equity Loan 8.40% 8.38% $50K Home Equity Loan 8.32% 8.29% $75K Home Equity Loan 8.36% 8.32% $30K HELOC 5.17% 5.16% $50K HELOC 4.91% 4.90% $75K HELOC 4.92% 4.90% Source: Bankrate -
Loan Type Today Last Week 36 Month New Car Loan 6.66% 6.71% 48 Month New Car Loan 6.80% 6.84% 60 Month New Car Loan 6.84% 6.88% 72 Month New Car Loan 6.12% 6.12% 36 Month Used Car Loan 7.12% 7.17% 48 Month Used Car Loan 7.05% 7.05% Source: Bankrate -
Card Type Today Last Week Business Credit Cards 10.74% 10.74% Low Interest Credit Cards 11.97% 11.97% Balance Transfer Credit Cards 12.03% 12.09% Cash Back Credit Cards 12.49% 12.49% Instant Approval Credit Cards 13.32% 13.32% Reward Credit Cards 13.40% 13.42% Source: CreditCards.com
Most Popular Articles
- Glancy Binkow & Goldberg LLP, Representing Investors Who Purchased Rentech, Inc., Announces Class Action Lawsuit and Seeks to Recover LossesBusiness Wire - Wed, Dec 30 - 8:39pm ET
- Dollar gains in Wednesday tradingCNNMoney.com - Wed, Dec 30 - 8:11pm ET
- Kevin and Danielle Jonas Commission Jacob & Co. for Their WeddingBusiness Wire - Wed, Dec 30 - 7:21pm ET
- AIG executive resigns over pay limitsReuters - Wed, Dec 30 - 7:18pm ET
More from Yahoo! Sources
Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Morningstar, Inc. Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.
Yahoo! Answers is provided for informational purposes only, and no Q&A is intended for trading or investing purposes. Yahoo! shall not be responsible or liable for the accuracy, usefulness or availability of any Q&A information, and shall not be responsible or liable for any trading or investment decisions based on such information. View Complete Answers Disclaimer.