Why Are Credit Card Companies Offering Consumers Access To Free Credit Reports

Checking your score is very important because it can assist you identify errors and make corrections in the report. Not checking your credit report files could lead to major rejection. If you have a right to see your credit files for free, then you should make a point of doing so. There may be an error that reflects in the report, and it could greatly impact your ability to be issued with a loan. Checking every detail in the file can help you unearth some things that could remain unidentified for some time.

The earlier you make the corrections the better because you are able to prevent some bottlenecks. People have been rejected for loans because there seems to be an unused but uncancelled mobile contract address, which has not been updated after one, moved from a previous home to a current one. You have to be vigilant in everything you do on your credit file.

In addition, you also need to check for products that are not yours cause of the ID fraud issues. Before you make any big applications like the mortgage, car loans, home equity loans, or such kind of credit facilities, it is essential you check the credit files in order to minimize the risk of rejection. According to Ted Sarenski, a certified public accountant as well as financial planner, he says that it is fantastic to have card issuers providing free credit report for consumers.

Other websites like CreditKarma, CreditSesame, and Credit.com have all along been offering access to free credit scores for many years. By getting on board and offering credit file access to consumers, the credit card issuers are able to reach and influence the way in which consumers interact with their credit files. Card issuers like Barclaycard US, Discover, and First Bankcard have already signed up to help allow more than 35 million cardholders to be able to check their FICO scores in each month and without a cost.

Besides the card companies, it is expected that more lenders will follow similar footsteps and allow consumers to access their credit files for free. One main reason why card issuers are offering the free access to credit file is to allow consumers to be able to check their report and establish issues that are affecting their borrowing and other aspects that are impacted upon by the score. While consumers may want to know their score, on the other hand, they have to focus more on the report.

The score is just a figure while the credit report offers a more detailed analysis of the score and it will show the companies that have extended credit to you, the kind of loans, which are outstanding, as well as the payment history. It is the report where you can also see some errors and correct them in advance before they negatively impact your borrowing status.

If the credit scores are readily available, they could help consumers to better spot mistakes or other problems within their credit report and be able to act appropriately. Federal regulators have hinted that fewer than one in every five Americans actually do perform a check on their credit in a year. And, without regularly reviewing the score and the report, it would be easy for consumers to fail to notice the errors in the credit file data or even identity theft that could have occurred in their cards.

Midwest will Warm Up with Risk of Flooding and Other Problems

People all across the Midwest are more than happy to bid farewell to the polar vortex that left them in the deep freeze this week. In places like Duluth, Minnesota, folks woke up to much warmer weather Wednesday as the temperature was just -30 with wind chill. Even though that is still ridiculously cold, it is a 20 degree rise from Tuesday. The polar vortex is on its way back to Canada while at the same time warmer, southeastern air is beginning to push up from the Gulf to warm things up considerably in many states including Minnesota.

Folks living in the Chicago area are used to bundling up during the winter but even there the temperatures were bone-chilling cold this week. The city of Chicago only saw a high of just 3 degrees on Tuesday. But, Thursday’s high should reach a more comfortable 25 degrees above zero. Then, by Friday, the temperature in the Windy City should hover above the freezing mark. That means all those extra layers of clothing can come off but the warming trend to come is sure to cause all types of problems ranging from roadway flooding to burst pipes and ice dams on roofs.

Meteorologists are warning that the warmup along with rain that’s being forecast in some areas in the Midwest this weekend could cause flooding in locations where ice can become jammed on rivers and streams. And, if the temperatures reach 45 or 50 degrees as they’re expected to do in many areas, once-frozen pipes inside homes and businesses can expand and burst from the pressure.

Frozen and burst pipes have been keeping plumbing services extremely busy over the past couple of days as water pipes have been problematic in scores of schools, businesses and homes in numerous states. It’s very likely that most plumbers won’t be able to catch up on their sleep anytime soon as the warmer weather is sure to cause more burst pipes. This is because it’s common for frozen pipes not to start spewing water until temperatures warm up in several days or even weeks.

Ice dams are also something for home and business owners to concern themselves with as the temperatures climb upward. An ice dam is a blockage on a roof that’s created by melting snow that refreezes. If ignored, an ice dam can destroy a roof and its gutters. It can also cause water to leak into the home or building wherein entire rooms can sustain substantial damage.