| Explains what is included on your credit report, and
what others will see when they review it.
A credit report is simply a document that
outlines your credit history. The report contains
details of your last residence, employment history,
payment history, whether you've declared bankruptcy,
and other personal information relative to your
finances.
Credit reports are made available by what is known
as "consumer reporting agencies", and the
most common type is a credit bureau. By collecting
important personal financial data, they make your
credit history available to lenders, credit card
companies, insurance companies, department stores,
employers (with your consent), mortgage companies,
and even landlords.
Credit bureaus make a profit by collecting and
selling your personal information. They comb public
records to see if you have any previous
foreclosures, tax liens, or court judgments against
you. They combine this information with your payment
habits to form a summary of your credit history.
Creditors or lenders then evaluate your report and
determine if you meet their criteria to qualify.
It is crucial to Monitor
your credit report for inaccuracies, and
possible Identity
Theft. It is just as necessary in today's world,
as brushing your teeth every day.
iCreditReports
Did you know there are 3 National Credit
Bureaus keeping credit files on you? Did you know
that different lenders look at different credit
reports? Be sure, be safe get all three.
.
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