Your credit report is a “history” of how you pay your bills. It includes information on where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home. Consumers should check their credit history every year to make sure the report is accurate. This not only provides a way to check your credit history, but also helps to protect against identity theft.

There are three ways to obtain your free credit report:

 1. Visit www.annualcreditreport.com. This is the only website authorized to provide you with your free annual credit report.
 2. Call the toll-free number 1-877-322-8228 to request your free copy.
 3. Mail a written request to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Phone and mail requests usually take approx. 15 days or you can obtain the report immediately by visiting the website. In order to obtain your report, you will be asked to provide the following information to verify your identity and to protect your privacy:

 • Full name
 • Date of Birth
 • Social Security Number
 • Current Address
 • Previous Address (if you’ve moved in the last 2 years)

For security purposes, you will then be asked 3-4 verification questions.  These questions vary from person to person, but examples would be:

 • The name of the company you pay your mortgage to.
 • The amount of your monthly mortgage payment.
 • Then name of the county you live in.
 • The amount of your monthly car payment.

Once you have obtained your credit report you should review it carefully with two main goals in mind:

 1.To verify that the information is accurate, complete, and up-to-date.  This is especially important before you apply for a loan for a major purchase like a house or car, buy insurance, or even apply for a job.

 2.To guard against identity theft.  Identity thieves often use your information to open new credit card accounts in your name. Then, when they don’t pay the bills, the delinquent account is reported on your credit report. Inaccurate information like that could affect your ability to get credit, insurance, or even a job.

When ordering your credit report, it’s important that you start the request and not simply respond to or give personal information to an email or a pop-up ad or a phone call.  The consumer reporting companies (Experian, Equifax and TransUnion) or www.annualcreditreport.com will not send you an email asking for your personal information. If you get an email, see a pop-up ad, or get a phone call from someone claiming to be from annualcreditreport.com or any of the three nationwide consumer reporting companies, do not reply or click on any link in the message. It’s more than likely just a scam.

There is only one website that is authorized to fill orders for the free annual credit report you are entitled to – www.annualcreditreport.com. Other websites that claim to offer “free credit reports”, “free credit scores” or “free credit monitoring” are not part of the legally mandated free annual credit report program. In some cases, the “free” product comes with strings attached. For example, some sites sign you up for a supposedly “free” service that converts to one you have to pay for after a short trial period. If you don’t cancel during the trial period, you may be unwittingly agreeing to let the company start charging fees to your credit card.

I hope that your credit report will be pristine, but if you do find inaccurate information there are steps you can take to correct it.  Under the FCRA, both the consumer reporting company and the information provider (that is, the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To take full advantage of your rights under this law, contact both the consumer reporting company and the information provider.

 1.Tell the consumer reporting company, in writing, what information you think is inaccurate. Consumer reporting companies must investigate the items in question – usually within 30 days – unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it must investigate, review the relevant information, and report the results back to the consumer reporting company. If the information provider finds the disputed information is inaccurate, it must notify all three nationwide consumer reporting companies so they can correct the information in your file.

 When the investigation is complete, the consumer reporting company must give you the written results and a free copy of your report if the dispute results in a change. (This free report does not count as your annual free report.) If an item is changed or deleted, the consumer reporting company cannot put the disputed information back in your file unless the information provider verifies that it is accurate and complete. The consumer reporting company also must send you written notice that includes the name, address, and phone number of the information provider.

 2. Tell the creditor or other information provider in writing that you dispute an item. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. In addition, if you are correct – that is, if the information is found to be inaccurate – the information provider may not report it again.

Except in rare circumstances, the only two things you should ever go in debt to buy are a house and a car.  These are both large-ticket items that most people could not afford to pay cash for, but are necessities that most can not do without.  Any other items should not be purchased unless you have the means on hand to pay for them.

If you look at what you spend your money on, just about everything can be classified into the following three categories:

Needs.  Each person’s individual needs are different.  If you have a family you have to consider their needs as well (kids clothing, school supplies, doctor’s visits, etc.).  The main thing is that you understand what your needs are and that you have the resources to meet those needs.  Anything that falls within the needs category should be able to be purchased with your regular weekly/monthly income.  The notable exception in this category is a house and car as stated above.  However, even though you need a house and a car, you don’t necessarily need to live in a mansion and drive a Mercedes.  Your needs still have to match your budget!

Wants.  Each person also has unique “wants” that motivate our lifestyle.  For some it’s taking vacations, for others its buying the latest electronic gadgets.  There is absolutely nothing wrong with wanting things, in fact it provides motivation to work hard to get them.  However, if you immediately go into debt just to be able to satisfy your wants then you need to reevaluate your priorities.  Most of the “wants” in your life can be obtained much easier if you are willing to plan ahead and save up for it.  You will end up enjoying that vacation or new TV much more if you’re not dreading the next credit card bill that’s going to reflect your latest impulse spending.  You also will end up paying less for it when you’re not having to make interest payments on top of the purchase price.     

Emergencies.  It’s very hard to plan for emergencies, because they are by definition unforeseen circumstances that usually require immediate action on your part.  To avoid having to go into debt to meet the emergencies that may come up in your life, you should always have an emergency fund set aside that is only used for real emergencies.  This doesn’t have to be a large sum of money.  In fact, $1,000 would probably cover most emergencies that you will encounter (appliance failure, car repairs, etc.).  Having this money set aside for these emergency situations will end up saving you a lot of money that you would end up paying in interest if you had to borrow the money on short notice.

Your FICO score can range from 300 (atrocious) to 850 (perfection). Anything above 720 is usually considered good. The average American’s credit score is 678, although 11% have credit scores of 800 or above. Only 1% of the population can boast of a perfect 850 score.

Below are the 5 major areas which are evaluated in calculating your overall credit score and the weight given to that category:

1) Past payment history (35%). Your payment punctuality is the most critical of the factors that make up your credit score. The more recent your tardiness, the lower your score will be. A history of late payments on several accounts will cause more damage than late payments on a single account. Of course, you can greatly improve your overall score by paying your bills consistently on time.

2) Amounts owed (30%). Add up all of your outstanding balances and compare the number to the amount of credit that is available to you. If you are reaching — or exceeding — your credit limits, lenders will be less willing to lend you additional money. You also want to make sure that the credit extended to you isn’t out of proportion with your income. Interestingly enough, your score can be significantly affected depending on when you request it. You can add 20 points to your score the day after you pay your credit card bill (even if you pay in full every month).

3) Length of credit history (15%). Obviously, the longer your credit history, the more favorable lenders will see you. Your score in this area also takes into account how long it has been since you last used certain accounts. Just having an idle card for 10 years won’t necessarily raise your score. Don’t open a lot of new accounts at once to establish a credit history. That strategy will lower the “average account age” on your score, which could affect your score negatively. In order to get your score into the 800 range, you will need to have at least 10 years of positive credit history.

4) Amount of new credit (10%). Each time you apply for new credit, an inquiry shows up on your report. Red flags start waving when you take on more credit — or even just apply for new credit — in a short period of time. Future lenders do not take kindly to all this readily available credit. They’re afraid you will use it to go on a spending binge, thus quickly undermining standard calculations for determining how much additional debt you can shoulder.

When you shop for new credit (such as a home loan), try to do so in a concentrated period of time. FICO distinguishes a search for a single loan and requests for many new credit lines. (Requesting a copy of your own credit report does not affect your score.)

5) Types of credit (10%). Types of credit include credit cards, retail accounts, and installment loans (like car loans and mortgages). Though you may be tempted to show what a good borrower you are by using all types of credit, more is not always better in the eyes of credit scorers. If you have had no credit, lenders will consider you a higher risk than someone who has managed credit cards responsibly.

Here are the top factors that make your score lower:

1. Average balance of retail accounts is too high. High credit balances for revolving accounts (credit cards) and some installment accounts (mortgages and auto loans) are considered by lenders to be a negative factor when determining credit worthiness. High credit balances suggest a sense of living outside your means, which is a high risk for creditors if they are trying to gain repayment. In addition, never using your credit cards is also considered a negative factor because it does not provide lenders with enough information about your creditworthiness. Lenders evaluate how much you owe other creditors in relation to your income.
2. Length of time finance accounts have been established is too short. Open credit accounts over a long period of time are considered a positive factor by lenders, because sufficient credit history can be evaluated as to how you handle your financial responsibility. An optimal credit report will contain about 30 years of credit history. Credit reports with less than 3 years of history are considered not adequate.
3. Too many inquiries. An “inquiry” is noted on your credit report whenever you apply for new credit. The lender considering your application checks your credit history, which generates an inquiry. Although inquiries are considered common when applying for credit, lenders do not like to see many inquiries within a short period of time. This is because they don’t know if you are just searching for the best deal or if you are becoming financially unstable. It’s often best to limit your credit search to a small number of lenders when searching for the best offer.

“Will a man rob God?  Yet ye have robbed me.  But ye say, Wherein have we robbed thee?  In tithes and offerings.” (Malachi 3:8) 

Many Christians think that they are tithing because they give 10% of their income to the church. However, the word “tithes” is plural, because there is more than just one.  God was not condemning the children of Israel for not paying their tithe, but rather their tithes (more than one).  In fact, there were actually three different tithes set out in the Law of Moses.  

Levitical Tithe

The first tithe was the Levitical tithe, which is what we most commonly think of when we discuss tithing.  This was to be a 10% tithe of all your increase during the year. 

“And all the tithe of the land, whether of the seed of the land, or of the fruit of the tree, is the Lord’s; it is holy unto the Lord.” (Lev. 27:30) 

“Thou shalt truly tithe all the increase of thy seed, that the field bringeth forth year by year.” (Deut. 14:22) 

“And, behold, I have given the children of Levi all the tenth in Israel for an inheritance, for their service which they serve, even the service of the tabernacle of the congregation.” (Num. 18:21) 

This tithe was designed to support the work of the local ministry/church.  The priests and Levites did not receive a portion of the inheritance, instead God ordained this Levitical tithe to provide for the needs of the priests and for the daily operations of the tabernacle/temple. In this current age, the Levitical tithe is used for the day-to-day operations of the church and salaries of the church staff, etc.  

Poor Tithe

The second tithe was the poor tithe.  Every third year, you were also required to give 10% to help the less fortunate in the land.  

“At the end of three years thou shalt bring forth all the tithe of thine increase the same year, and shall lay it up within thy gates: and the Levite, (because he hath no part nor inheritance with thee,) and the stranger, and the fatherless, and the widow, which are within thy gates, shall come, and shall eat and be satisfied: that the Lord thy God may bless thee in all the work of thine hand which thou doest.” (Deut. 14:28-29) 

This tithe goes beyond giving in special offerings to help the poor or the afflicted around the world.  Many people give money to help the poor in third world countries or to assist victims of natural disasters.  That is good and commendable, but that should be in addition to the poor tithe.  The poor tithe was designed to help those in your local area. 

Since it’s often easy to over-look this tithe, I would recommend not waiting to pay it until every third year.  Instead, the easier solution is to give 3.33% every year which would still equate to 10% every third year.  Then you don’t have to worry about remembering is this the year I’m suppose to pay the poor tithe or is that next year.  It’s also easier on your budget since 3% each year is easier to plan for than 10% every third year. 

Rejoicing Tithe

The third tithe was the rejoicing tithe.  This was also to be 10% of your increase every year. 

“Thou mayest not eat within thy gates, the tithe of thy corn, or of thy wine, or of thy oil, or the firstlings of thy herds …. But thou must eat them before the Lord thy God in the place which the Lord thy God shall choose” (Deut. 12:17-18) 

God’s law intended for the children of Israel to spend 10% of their income going up to Jerusalem for the feasts each year.  Under the Mosaic Law, all males in Israel had to appear before the Lord three times a year (Exod. 23:17).  This tithe was to be used to fund those trips.  Today this 10% tithe should be used to cover the costs of going to fellowship meetings.  You aren’t suppose to spend that money to fix up your house, or go out to eat, or buy a new car.  The rejoicing tithe is to be used for a specific purpose.  We cannot neglect the rejoicing tithe either. 

Now some radical proponents of tithing take only the scriptures related to the rejoicing tithe and use it to justify paying tithes to themselves.  That’s not what the scripture says and these people conveniently overlook the scriptures regarding the other two tithes.  God didn’t give the children of Israel three tithing options and just let them pick whichever one best fitted their situation.  None of the tithes were optional! God’s law required all of them to be followed.  “Bring ye all the tithes into the storehouse” (Mal. 3:10) 

So the Law of Moses identified three separate tithes that we are to be following.  Josephus in his writings also mentions the three different tithes of the Mosaic Law.  However, this principle of tithing was established by God long before the Law of Moses (Gen. 14:20).  When Jesus came to this earth, not only did he not do away with it, but he commended its practice (Matt. 23:23).  Paying tithes (plural) is a practice that we all need to be following.  This involves giving more than just 10% each year.  An individual who is bringing “all the tithes into the storehouse” should be giving over 13% each year for the Levitical and poor tithes.  In addition, they should also be setting aside 10% for the rejoicing tithe to attend fellowship meetings.  Only then are you truly following the principle of tithing.