Find Out What Your Credit Rating Is. See If It's Too Low, Indicating a Reporting Problem.

Gary North

Americans are now legally entitled to a free credit report from each of the three nationwide credit reporting agencies, Experian, Equifax, and Trans Union. You can requesting one of your three reports every four months.

To check your rating, begin by clicking here.

If you are above 700, you are in good shape. If you are above 800, you are in great shape.

Warning: my credit rating was downgraded from 803 to about 750 when I requested that my credit card borrowing limit be reduced. I did this for protection against identity theft. I did not know that all three rating agencies use a formula of income-to-credit-limit. When I dropped the credit limit, the ratio went up, which is bad. The person on the phone did not warn my that this would happen.

The system is rigged to maximize your use of credit.

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