What to do before an credit check Advertiser disclosure We make you our top priority. Each time. We believe everyone should be able to make sound financial decisions with confidence. While our website does not include every company or financial product that is available in the marketplace We're pleased of the advice we provide, the information we provide and the tools we create are objective, independent easy to use and free. So how do we make money? Our partners compensate us. This could influence which products we write about (and the way they appear on our site) however it does not affect our recommendations or advice, which are grounded in many hours of study. Our partners do not pay us to guarantee favorable reviews of their products or services. . What to do before a Credit Check Review your credit first, and then take action to ensure it is in good form. Written by Lauren Schwahn Lead Writer | Personal financial and the debt Lauren Schwahn is a writer at NerdWallet who covers budgeting, debt and money-saving strategies. She contributes to the "Millennial Money" column in The Associated Press. She has been featured by USA Today, MarketWatch and more. Lauren has a bachelor's level degree in historical studies from The University of California, Santa Cruz. She's based in San Francisco. Aug 15 2022, 2022 Written by Sheri Gordon, Assistant Assigning Editor Credit scoring, making and saving money, and paying down debt Sheri Gordon serves as an editor-in-charge assistant in the Core Personal Finance team at NerdWallet. For 13 years, Sheri was on the Metro and business copy desks of The Los Angeles Times, where she wrote stories that were awarded in 1998 the Pulitzer Prize for breaking news. Sheri has edited publications on culture, politics food, education, and activism. She written books on the policy of water, healthy living and architecture. Sheri earned her Bachelor of Arts in History in the University of California, Los Angeles. Email:
. Many or all of the products we feature are made by our partners who compensate us. This impacts the types of products we feature as well as the place and way the product appears on the page. However, this does not affect our assessments. Our opinions are our own. Here's a list and . Most lenders require a credit report when you apply for credit such as a mortgage credit card or auto loan. Prospective landlords, employers and utility providers may also look into your credit. If your credit check does not work out, your application might be rejected, or you may get undesirable loan terms, for example, a higher interest rate. There are steps that you can make to prevent unexpected surprises and put you in the ideal possible position you can be. Here's what to do in the event of a credit check. There are four things to take care of prior to the date of a credit report 1. Unfreeze your credit. Freezing your credit is a way to prevent fraud: It blocks others who have access to your credit reports and also from opening a new bank account with your name. However, if you fail to remove the security freeze prior to applying for credit, creditors aren't able to run a credit report and are likely to deny your application. Aren't sure if your credit has been frozen? Log in to your accounts with the three main credit bureaus (Equifax, Experian and TransUnion) to see your current status , or call their support numbers. If you placed a freeze at each bureau, you'll have to call each bureau separately to . 2. Check your credit reports and scores Lenders are going to examine your credit scores and reports to determine if you're a trustworthy borrower. For instance, they'll determine whether you've had a track record of paying in time or have accounts that are in collections. Doing this yourself will allow you to understand your and standing. Also, reviewing your reports will give you a chance to spot which could affect your credit or your application like an insufficient account balance. Credit reports do not show your credit score, therefore you'll have to look them up separately. It is possible to get free credit reports every week until the close of the year . Many personal finance websites, such as NerdWallet offer a free credit score and report. Accessing your own credit scores and reports won't harm your score. 3. Improve your credit score The higher your credit score will be, the more likely banks will approve your application and give you favorable terms. Find opportunities to improve your credit score increase or maintain it. Actions might include paying down existing debts and avoiding taking on additional debt. For instance, frequent payments on a credit card throughout the billing cycle can help your credit score by maintaining a low utilization of your credit. 4. Avoid applying for any an additional credit. The credit check that occurs whenever you make an application for credit or a loan and credit card referred to as a . Hard inquiries show up in your credit reports for around two years and can affect your score on credit for the duration of a year. Limiting inquiries to a minimum will help safeguard your credit. When you shop for different lenders, say for mortgages, the numerous inquiries will generally be considered one inquiry if they are made within a 14 to 45-day period. "You do not have to pay for shopping around, however you will be penalized for taking too longto complete the process," Robert Persichitte, an Arvada certified financial planner based in Colorado, said in an email. But, applying for multiple credit cards within a short period of time may reduce your score and could be a problem for potential lenders. Following these tips before you get an assessment of your credit score will ensure that it runs as smoothly as you can. The author's bio: Lauren Schwahn covers consumer credit and debt on NerdWallet. Her work has been featured on USA Today and The Associated Press. On a similar note... Explore even more deeply in Personal Finance Make all the right money moves

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