Free Credit Report

Henry the VIII may have had some trouble with credit reporting agencies. If you are a JR or III or maybe even Henry the VIII, the credit reporting agencies don’t always pay attention to the suffix.

So, if you are the III, as I am, and your dad is late on a few bills, you may have just received a small inheritance in the form of a lower credit score. Even a more likely, and probably worse, situation is the father who decided to name his son Bill Jr…

Junior goes away to college and gets a free t-shirt for every credit card application he fills out. And of course he is working so hard on his studies and doing 8 hours of homework each day and he is so focused on getting good grades that he forgot to pay his bills. Well dad, you may not be able to get as good as a rate on your next home purchase as you may have thought.

I am not sure why the credit reporting agencies have a difficult time with suffixes, but it would be in your best interest to keep an eye on your credit report. Under the new law the last few years everyone can get a free credit report each year. Everyone should be checking, especially Henry the VII, if the VIII has not yet learned about managing his finances.

• Money doesn’t solve money problems
• Make the most of Credit Card debt (part 2)
• Make the most of Credit Card debt (part 1)
• How to quit spending more money than you make
• How to budget with ING direct
• Debt Snowball Method