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What Does a Credit Report Tell You?

Your credit report is probably one of the most important financial reports you will need to learn to understand. By regularly keeping yourself updated on your own credit status, youu2019ll be able to correct any damage done to it or use its information to make better financial decisions. Click the link below to learn more about how to read your credit report. https://importantcreditnews.com/what-does-a-credit-report-tell-you/

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What Does a Credit Report Tell You?

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  1. Your credit report is probably one of the most important financial reports you will need in your life so it’s important to understand what it is, what it tells you, and how it’s used.

  2. What Does a Credit Report Tell You? • A credit report is a statement issued by credit bureaus or credit reporting agencies and contains all the information about your credit history and current credit activities. • 4 Main Categories: • - Identify • Existing Credit information • Public Records • Recent Inquiries

  3. What Agencies Maintain Credit Reports? • These agencies analyze and update your credit report regularly upon submission of information from creditors you have accounts with. • The biggest agencies are: • Equifax • TransUnion • Experian

  4. Anatomy of a Credit Score:

  5. Who Looks at Your Credit Score Before Making a Decision About Your Credit Application? • Banks and Financial Institutions • Department Stores and Other Retailers • Credit Card Companies  • Insurance Companies • Utilities, Cell Phone, and Cable Providers • Collection AgenciesLandlords • Prospective Employer

  6. How to Get Your Credit Report?

  7. By regularly keeping yourself updated on your own credit status, you’ll be able to correct any damage done to it or use its information to make better financial decisions. Presented By: Important Credit News

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