A Credit Report is a detailed report of credit history that is gathered by three credit bureaus; Transunion, Equifax, and Experian.
Credit accounts like personal loans, mortgages, credit cards, medical bills and car payments are some of the items that can be on your credit report.
Lenders look at your credit report to determine your creditworthiness, your credit report carries a lot of weight.
They affect nearly every aspect of your life and certainly affect how lenders, potential jobs, auto insurers and business partners will view you.
What Credit Reports Are Not
Credit reports do not include your income, marital status, assets, age or location.
They are also not permanent, after seven years your report will knock off accounts that are seven years old.
You can also always improve your credit, whether it is by taking out a loan to pay everything off or starting to pay your bills on time.
Using a credit monitoring service can help you stay on top of your report and make sure you are doing everything you can to maintain a high score.
How To Get A Copy Of Your Credit Report
By going to annualcreditreport.com you can get a free copy of your credit report.
This can provide your with data about what is hurting your credit, and can show you what you need to working on to bring up your score.
What The Numbers Mean
Your credit score is calculated on a formula based on open credit card utilization, on-time payments, accounts in collections, bankruptcies, foreclosures, liens, age of credit lines, total amount of accounts and hard credit inquiries.
All of these factors determine what score you credit is at. Having a great credit score makes it easier for you to get a loan, and you end up paying less money in interest.
Make Credit Reports Work For You
Monitoring your credit is very important, any errors on it needs to be reported to the credit bureaus as it can dramatically hurt your score.
It is illegal for a credit bureau to report inaccurate information.
How Credit9 Can Help You
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Since 2018, Credit9 has provided over $460 Million in loans to over 36,000 of our customers, and we’re confident we can help you too.
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