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Credit


1. How can I check my credit report or see a copy of it?
You can contact any or all of the three main credit bureaus to send you a copy. See the Resources and Help Credit Bureau section for contact information.

2. How do I know which credit card is the best one?
 There are three main characteristics to look out for: APR or annual percentage rate, annual fees and grace periods.

The APR determines how much credit card companies will charge you for the amount of debt you owe them. The lower the APR, the better you will be. An APR higher than 15% is rather high and extra fees will add up fast if you can't afford to pay off the charges at the end of each month.

Annual fees are charges you pay just for owning the card without even using it. If you can afford to pay off your monthly bills, you may find it better to get a card with no annual fee but a high APR.

Grace periods are the amount of time given to you to pay off the charges without any extra fees. Some cards have grace periods from 21 to 30 days. However some cards have none and start charging you as soon as you make a purchase.

3. If I get turned down for credit, can I find out why?
If you are turned down for something because of your credit history, a lendor must tell you why. If the reason is because of something from a credit bureau, you can request the bureau to send you a copy of your credit report at no charge if you request a copy within 60 days.