A record of your credit history.

There are a number criteria that factor into your credit score, including:

  • Your ability to pay back loans on a regular and timely basis (including credit cards)
  • How close you are to maxing out all of your available credit lines
  • How long you've had a credit history
  • Your overall amount of outstanding credit
  • The mix of credit types that you have outstanding ("closed-ended" loans like mortgages and car loans versus "open-ended" loans like credit cards)

Unfortunately, sometimes information that is not accurate can find its way to your credit report. Clerical errors, inaccurate reporting and identity theft are just a few ways this can happen. That's why it is so important to check your credit reports regularly to make sure that all information is correct and that no one has tried to open credit accounts using your name.

One way to do that is to visit AnnualCreditReport.com. It's a free way to order all three credit bureau reports at one time so that you can check them over for accuracy.

You can also enroll in a credit monitoring program (for a fee) with one or all three of the major credit reporting agencies. Their contact information is below:

Equifax: 800-685-1111 (general) or 800-525-6285 (fraud)
P.O. Box 740241, Atlanta, GA 30374
www.equifax.com

Experian: 888-397-3742 (general and fraud)
P.O. Box 2002, Allen, TX 75013
www.experian.com

TransUnion: 800-888-4213 (general) or (80-680-7289 (fraud)
P.O. Box 2000, Chester, PA 19022
www.transunion.com

All three offer different paid packages to safeguard your credit, so do some homework and find out which program works best for you. If you have any questions, give us a call or stop by the branch.

If you're not a member yet, let RiverTrace help you Chart Your Path. It's easy to enroll and we can take care of it for you when you open an account or apply for a loan.

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