|Check your FICO Score for errors which are |
keeping you from being approved for loans.
If you are considering a big purchase, you should make sure your FICO score is ready to support you. Even if you have combed through your score for inaccuracies, there’s now a safety net in case you missed some. The Equifax Finance Blog explains in the article, “Are You Receiving the Best Interest Rates on Your Loans?”
Due to recent financial reforms, lenders have to give you a Risk-Based Pricing Notice when you don’t qualify for the best rates. This notice can highlight any problems which are causing you to be charged more for a loan. If you find these problems to be report inaccuracies, the path to a better FICO score and lower interest rate is clear. All you have to do is contact the reporting agencies and request a fix.