What is a credit report? A credit report is a record of all of your past loans and repayment history. It is also sometimes referred to as credit score, credit reputation or credit history. Banks and other credit providers use your credit report to make decisions about providing you with credit. They will use your previous credit history to assess the risk associated with lending money to you. Everytime you apply for credit, whether it be for a credit card, home loan, personal loan or even a store card, this information will be forwarded to a credit bureau to be added to your credit report. Why is a credit report important? Banks, credit card providers and other lending agencies use your credit report as an important tool in assessing your credit worthiness. It can be the deciding factor in whether your loan or credit application is succesful or not. Therefore a strong credit report or history is very important to your financial future. How can I access my credit report? The easiest and fastest way to access your credit report is online. Through many websites you are now able to obtain a free instant credit report online. What sort of information is on my credit report? Your credit report will typically include information on your payment record, your control of debt, loan applications, credit applications and signs of stability and financial responsibility. Who is Experian? Experian is a consumer credit reporting agency. They are global company headquartered in Dublin, Ireland and are one of the biggest US credit agencies. They are one of the leading providers of free instant credit reports in the US and employ over 15,500 people worldwide. |
