Reviewing Your Credit Report
What is a credit report?
A Credit Report is a detailed report of an individual's credit history prepared by a credit bureau. It is used by a lender (bank, credit union, etc.) in determining a loan applicant's creditworthiness. A credit report includes the following information:
There are 3 credit bureaus: Experian, Equifax and TransUnion. These 3 credit bureaus use your credit report to determine your FICO CREDIT SCORE. This FICO Credit Score is then use assist in determining your APR when you attempt to obtain a mortgage, automobile, student or other type of personal loans. It is also use to determine you APR for your credit cards, line of credit, etc. Seeing how most parts of your financial life goes back to your credit report and your creditworthiness status (Good Credit, Bad Credit and/or No Credit), it is important to make sure that your credit report is as accurate as possible.
Reviewing your Credit Report
Sometimes, there may be some inaccurate information on your credit report, which can negatively affect an individuals credit report and score. This may sometimes go unbeknownst to an individual. For this reason, it is essential for an individual to check their credit report for inconsistencies at least once a year. In order to assist an individual in meeting that goal, the Federal Government requires the 3 credit bureaus to give 1 free credit report a year to individuals via https://www.AnnualCreditReport.com/. If you notice any errors on your credit report, you may contact the credit bureau and they may be able to assist you with resolving the discrepancies. You may also contact the company/corporation which has placed the negative mark on your credit report.
Other negative marks on your credit report which are accurate and true may be harder to resolve. It usually takes about 7 years for a negative mark to be removed from your credit report, while a bankruptcy may take up to 10 years to be removed.
Knowing what is on your credit report and making sure it is correct can improve your credit report, credit score and inherently lead to an improvement in your quality of life. So don't hesitate any longer, obtain your Free Credit Report Today.
Definition by Investopedia
A Credit Report is a detailed report of an individual's credit history prepared by a credit bureau. It is used by a lender (bank, credit union, etc.) in determining a loan applicant's creditworthiness. A credit report includes the following information:
- Personal data (current and previous addresses, social security number, employment history)
- Summary of credit history (number and type of accounts that are past-due or in good standing)
- Detailed account information
- Inquires into applicant's credit history (number and type of inquiries into applicant's credit report)
- Details of any accounts turned over to credit agency (such as information about liens, wages garnishments via federal, state or county records)
- Information on how to dispute any of the above information.
There are 3 credit bureaus: Experian, Equifax and TransUnion. These 3 credit bureaus use your credit report to determine your FICO CREDIT SCORE. This FICO Credit Score is then use assist in determining your APR when you attempt to obtain a mortgage, automobile, student or other type of personal loans. It is also use to determine you APR for your credit cards, line of credit, etc. Seeing how most parts of your financial life goes back to your credit report and your creditworthiness status (Good Credit, Bad Credit and/or No Credit), it is important to make sure that your credit report is as accurate as possible.
Reviewing your Credit Report
Sometimes, there may be some inaccurate information on your credit report, which can negatively affect an individuals credit report and score. This may sometimes go unbeknownst to an individual. For this reason, it is essential for an individual to check their credit report for inconsistencies at least once a year. In order to assist an individual in meeting that goal, the Federal Government requires the 3 credit bureaus to give 1 free credit report a year to individuals via https://www.AnnualCreditReport.com/. If you notice any errors on your credit report, you may contact the credit bureau and they may be able to assist you with resolving the discrepancies. You may also contact the company/corporation which has placed the negative mark on your credit report.
Other negative marks on your credit report which are accurate and true may be harder to resolve. It usually takes about 7 years for a negative mark to be removed from your credit report, while a bankruptcy may take up to 10 years to be removed.
Knowing what is on your credit report and making sure it is correct can improve your credit report, credit score and inherently lead to an improvement in your quality of life. So don't hesitate any longer, obtain your Free Credit Report Today.
Definition by Investopedia