If you have never taken a look at your credit report, you
may be wondering what information is found on your report.
A credit report will list your current debts and credit accounts.
Your report will also contain a history of the inquiries on
your credit report. It will list when you applied for credit.
A credit report includes a history of payment records for
credit accounts. It will reflect late payments. The report
will show how many days late it was in segments of: 30 days,
60 days and 90 days late. This is why it is so important to
make payments on time each and every month. Your credit report
will also show if you ever declared bankruptcy or if you have
any judgments against you for unpaid debts. The credit report
will also reflect any liens or garnishments against you.
It is so very important to work to have the best credit possible.
There are so many places that may access your credit report
if you sign an agreement allowing them to do so. Every time
you apply for a loan from a bank or another lender, they will
probably want to check your credit report. When you apply
for a credit card or a merchant credit card or account, they
will also want to see your credit report. Utility companies
and cellular telephone companies will also want to see your
credit report. Anytime you apply for a car loan or a mortgage,
your credit report will be viewed. When you apply for car
insurance and other insurance, they may want to check your
credit report. If you have poor credit you may end up paying
As consumers we need to know what is in our credit report.
It is a good idea to order a copy of your credit report from
time to time. This will allow you to see what lenders see.
You can pinpoint areas where you need improvement. In addition,
you can look for any inaccuracies on your credit report. If
you would happen to find any incorrect information, you can
By understanding what your credit report shows and just how
often you may be requested to authorize a check on your credit
report, you can be more prepared to work on building good
credit. It can affect whether or not you are approved for
credit and loans if you have poor credit. Bad credit can also
result in higher premiums and interest payments. Take the
time to understand your own credit report so you can identify
your strengths and weaknesses.