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Birch Lending

Your Credit Score and the Price You Pay for Credit

Understanding Your Credit Score

Your credit

score

Your credit score is not available from Clarity - Clear Credit Risk, which is a consumer reporting agency, because they may not have enough information about your credit history to calculate a score. What you

should know

about credit

score

A credit score is a number that reflects the information in a credit report. A credit report is a record of your credit history. It includes information about whether you pay your bills on time and how much you owe to creditors.

A credit score can change, depending on how a consumer’s credit history changes.

Why credit

scores are

important

Credit scores are important because consumers who have higher credit scores generally will get more favorable credit terms. Not having a credit score can affect whether you can get a loan and how much you will have to pay for that loan.

Checking Your Credit Report

What if there

are mistakes in

your credit

report?

You have a right to dispute any inaccurate information in your credit report. If you find mistakes on your credit report, contact the consumer reporting agency.

It is a good idea to check your credit report to make sure the information it contains is accurate.

How can you

obtain a copy of

your credit

report?

Under Federal law, you have the right to obtain a free copy of your credit report from each of the nationwide consumer reporting agencies once a year.

To order your free annual credit report—

By telephone: Call toll-free: 1-877-***-****

On the web: Visit www.annualcreditreport.com

By mail: Mail your completed Annual Credit Report Request Form

(which you can obtain from the Federal Trade Commission’s web site at

http://www.ftc.gov/bcp/conline/include/requestformfinal.pdf) to: Annual Credit Report Request Service

P.O. Box 105281

Atlanta, GA 30348-5281

How can you

get more

information?

For more information about credit reports and your rights under federal law, visit the Consumer Financial Protection Bureau’s website at www.consumerfinance.gov/learnmore, or the Federal Trade Commission’s web site at www.ftc.gov.

WA 13581331.1

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