Arming Yourself with Knowledge: Your Credit Score

Relax. You’re not the only one out there with less-than-perfect credit. Bad credit payday loans are more common than you think. They offer a quick and simple alternative for emergency cash needs. Plus, payday loans are essentially unsecured bad credit loans. Most lenders do not require credit checks. However, you should always be aware of your credit report and score. In fact, you are entitled to a free copy of your credit report from each of the three credit reporting agencies (Equifax, Experian, and Transunion) every 12 months. You can go online to annualcreditreport.com or call 1-877-322-8228 to request reports from each agency. You’ll have to put in some basic information for verification to each agency to receive your report. It will then be available online for 30 days for you to review, print out or dispute items. If you wish to see your credit scores, those will cost you anywhere from $5.95 to $7.95 per agency. But it is good to compare these and track them. Scores range from 300 to 850. The higher your score, the better your credit and the more likely it is you’ll secure loans, credit cards, purchases, etc. Although not required for a payday loan, this information is vital for your own personal financial planning and knowledge.