What is credit report?
A consumer credit report is a factual record of an individual’s credit payment history. Its main purpose is to help a lender quickly and objectively decide whether to grant you credit. If you have any type of a charge account, car loan, student loan or home mortgage, then information about you is probably stored in a consumer credit database. Most of the information in your consumer credit report comes directly from the companies you do business with, but some information comes from public records. A credit report is used as the raw data to develop your credit score, but does not contain a score by itself.
A credit report is file related to you with your lenders and banks. The credit report is an accurate record of your financial activities, including the accounts you have, the credits you may have taken so far, any late payments, and the actions started against you for financial reasons. This report is used to determine your credit rating – which is a number indicating your financial risks. Legal way to gather your financial and other details It is legal way for them to gather all sorts of details about you. In turn, you have the right to check this file – and you should do so and inquire regularly about your credit report and your credit score, particularly when you plan a big financial change, for instance, before applying for a loan or a mortgage, you should always take time and review your credit report. This allows you not only to plan your moves accurately, but also to dispute any mistakes that might occur in the report. Credit Report Refers your Identification Data The credit rep
Related Questions
- What is the Advanced Credit Repair definition of "clearing up" a consumers credit report or improving their credit profile?
- Can Advanced Credit Repair demand that information be removed from a credit report which I have gotten from a merchant?
- What is an Investigative Consumer Report and how does it differ from a credit report?
