Learn About Credit Reports
Payment history is the single most important factor when calculating a consumer's credit score. It accounts for the highest percentage, 35%, of a credit score and can therefore have a significant negative impact when trying to obtain credit. It's not...
Many consumers, once they start getting their free annual credit report, may wonder when the information which appears actually gets added. All information on a credit report is submitted by creditors whom consumers have existing relationships with s...
An accurate credit report is crucial to qualify for loans and receive the best interest rates. Over time, incorrect information will appear on an individual consumer's credit report either due to reporting errors by retailers and financial institutio...
If you carry a credit card and use it to make purchases then you are benefiting from a revolving line of credit. Revolving lines of credit vary drastically from the other most common type of loan which is installment based. Common installment loans a...
Making any type of late payment will have a detrimental effect on an individual's credit report and credit score. Some late payments are worse than others however, as they may be portends of more significant issues in the future. The entire purpose o...
A credit report provides significant insight into a persons financial past and whether or not they are fiscally responsible or have had ongoing money management problems. For landlords everywhere, this is a key question when choosing candidates to re...
A credit report is made up of a number of different aspects including payment history, available credit lines and a section for legal judgments or liens placed against you. All of this encompasses a credit history which is consolidated into your FICO...
A judgment on a credit report is the result of a legal action which has been taken against you of which you are found responsible. A business, such as a mortgage company or bank, or an individual can file a civil lawsuit and if the plaintiff is award...
Credit reports have a section most consumers may not be familiar with and are curious about what it means in terms of their ability to obtain credit and how it may impact their FICO score. The inquiries area, while not as important as payment history...
A credit report is crucial when applying for a job, seeking a mortgage to buy a new home or trying to buy a new TV with an in-store credit card. All of these decisions which are made by retailers and other financial institutions hinge on what is cont...
Credit reports are the primary tool, in addition to their corresponding credit scores, determining whether or not a consumer is trustworthy enough to receive credit from a lender. It is a summation of their credit worthiness and whether or not they'v...
A foreclosure will stay on a credit for up to seven years significantly impacting a borrower's credit history and credit score. Foreclosures along with bankruptcies are two of the most damaging adverse events on an individual's credit report and will...
When it comes to cleaning up your credit report it is often unnecessary to pay an organization to do something you can do yourself. While it can be helpful to utilize nonprofit credit counseling services to consolidate payments and negotiate lower in...
A credit report is a complete summation and overview of an individual consumer's financial responsibility in managing lines of credit. When someone takes out a credit card or mortgage and begins making monthly payments the credit report shows the sta...
In the United States, there are three main consumer credit reporting bureaus: Equifax, TransUnion and Experian. These bureaus use similar methods to issue credit scores to consumers and these credit scores define creditworthiness. They base these cre...
Normally information reported by lenders to credit reporting agencies require information to be true and accurate. That's not to say that inaccurate information will not appear on an individual's credit report. If that happens, a written correction ...
A recent United States law has been passed that allows all individuals access to one free annual credit report from each of the three credit reporting agencies. Experian, Equifax and TransUnion all provide services and means by which to obtain a fre...
Having a charge off on your credit report can severely impact your credit score and your ability to obtain future lines of credit with reasonable interest rates. Regardless of the reason a charge off appears on a credit report, any future lender wil...
A foreclosure can appear on a credit report for up to seven years and during that time individuals may find it difficult to get loans for mortgages, automobiles, apartment rentals, and can sometimes even negatively impact possible employment. There ...
Current or future employers request a credit report to develop an overall picture of whether or not a candidate should be hired or an employee should be fired or promoted. In developing this picture, a credit report provides such insights as to cred...
A credit report is a complete financial overview of the credit activities of any given individual. Three primary credit reporting agencies, Experian, Equifax and TransUnion, are responsible for maintaining and updating credit reports for millions of...
Given all the attention that identity theft has been getting from the mainstream media, I thought I'd spend a little time talking about steps that you can take to protect yourself against identity theft. Yes, it's mostly just common sense, but we can...
If you need to know how to get a good credit score and improve credit history , there are some things that can help you do this. Your credit score and history determine your ability to qualify for a loan to buy a home or car, and many other things as...