What Is a Credit Report?

There is one last thing I want to mention before we move on to discussing credit reports. Keep in mind that a VantageScore of 781 and above is considered excellent.

On the other hand, a FICO score of 781 is still only excellent. Find out whether the free credit score you're considering is a FICO score or a VantageScore so you can accurately assess your credit worthiness. You can get your credit score from a number of different websites, including the ones offered by your credit card company.

Experian, Equifax, and TransUnion are the three main credit bureaus. Each of the credit reporting agencies has a copy of your credit report. You can find your name and address in this report, along with your payment history, a list of your credit card accounts, and information about your mortgage and personal loans if you have them.

Negative items can include things like overdue accounts, payments, and fees. Your report also includes information from public records, which may include unfavorable information like a foreclosure or bankruptcy. In the case of a Chapter 13 bankruptcy, negative information remains on your credit report for the full seven years. There will be a permanent mark on your credit report for the full decade following a Chapter 7 bankruptcy filing.

Your credit score is not included in your credit report. The information in your credit report is used to determine your credit score when a lender checks it at the request of a creditor.

Now, your credit rating can range from one bureau to the next. Some creditors don't share payment history with the big three, which can affect your credit rating. Notably, pulling your credit report won't affect your score. Therefore, it is imperative that you routinely verify your reports for accuracy and for any indications of fraud.

Previous Post Next Post

نموذج الاتصال