There are a lot of consumer credit sites popping up lately. Indeed, a number of sites like Credit Sesame, Credit Karma and Credit Wise purport to give you an idea of what to expect when it comes to your credit, and better managing your finances.
These sites can be extremely helpful to you. For example, all three sites provide you with ways you can save money on your loans, by suggesting debt consolidation credit cards, or helping you figure out if you could refinance to a lower rate. Not only that, but you can keep tabs on your overall general credit situation, since some of these consumer credit sites allow you access to a credit report from a major bureau — on top of the access you get through AnnualCreditReport.com.
While consumer credit sites can be helpful, you do need to be aware of their limitations. Here are 3 things you should know about consumer credit sites:
Quick Navigation
your identity hasn’t been stolen. In addition to a free score, Credit Wise and Credit Karma will give you a free credit report. You can also always get one for free from each of the 3 credit bureaus every year at:
The point is, make sure you’re aware of what these sites offer, and how you can use the information you’re given. Be sure to read the fine print about if extras will cost you money, and if so, how much. Finally, always stay on top of your credit, especially when you’re trying to get a mortgage or some other type of loan.
Consumer credit sites can be great financial tools, but you need to be aware of their shortcomings, and carefully choose how you use them. Have you tried using these consumer credit sites? What has your experience been?
Source: biblemoneymatters.com