Getting a Copy of Your Credit Report

Since the 1970’s, credit scores have played an increasingly vital role in the lending industry.  These scores are now reviewed not only by prospective lenders, but also by landlords, insurers and government agencies. There are two scoring models that are mainly used.  Below shows the importance of each category in calculating the credit score.

FICO Score

  • The Consumer’s Payment History: 35%
  • Total Amounts Owed by the Consumer: 30%
  • Length of the Consumer’s Credit History: 15%
  • Types of Credit Used by the Consumer: 10%
  • Amount of the Consumer’s New Credit: 10%

VantageScore

  • Amount of the Consumer’s Recent Credit: 30%
  • The Consumer’s Payment History: 28%
  • Utilization of the Consumer’s Current Credit: 23%
  • Size of the Consumer’s Account Balances: 9%
  • Depth of the Consumer’s Credit: 9%
  • Amount of the Consumer’s Available Credit: 1%

If you are in the process of rebuilding your credit score, you should know that these reports are the sole source of information for your credit score. Thus, it is important that the information included is positive and accurate. Continental Finance reports to the 3 major credit bureaus: Equifax, Experian, and TransUnion on a monthly basis.

It is imperative that you have access to these reports so you can be aware of your financial status. Your credit reports can help you analyze your credit standing, make you aware of fraudulent activities, and function as your “resume” when applying for loans, credit cards, etc. Banks, financing firms, or lenders will use your credit report to make decisions.

You can always access your credit report for free by logging in to www.annualcreditreport.com.

The Reflex MasterCard®

Do you make two trips to the grocery store just because you didn’t have
enough cash during your first visit? Are you tired of always looking for a working ATM before you make any purchase? Can’t keep track of your finances because you keep losing your receipts? Then it may be time for you to get yourself a credit card.

We are certain that you’re aware of how convenient and helpful it is to have a credit card. You may have previously thought of getting a credit card again, but just got tired of financial firms denying your requests for credit.

Continental Finance believes in second chances; that is why we give more focus to people that are neglected by other firms. In fact, Continental Finance has created several cards that may meet the needs of these consumers; one being The Reflex MasterCard®.

The Reflex MasterCard is designed for people with less than perfect credit.  If you make on-time minimum payments and maintain your balances under your credit limits, you may be able to build, rebuild, or reestablish your credit!

If you have financial challenges or are trying to improve your credit score, using a credit card responsibly can help.  The Reflex MasterCard will report you payment activity monthly to the three major credit bureaus.  Debit card use doesn’t appear anywhere on your credit report; therefore, it can’t help you build or improve your credit.

Add The Reflex MasterCard to your financial plan: get yourself a Reflex MasterCard today!  Click here to Apply Now!