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How Often Should You Check Your Credit Report?

Why Is A Good Credit Score Helpful?

What Kind Of Information Will Your Credit Report Contain?

What Can You Do If Your Credit Report Is Wrong?

How You Can Raise Your Credit Score If Itís Low

 

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What Kind Of Information Will Your Credit Report Contain?

A credit report is the compilation of a consumerís financial history. It includes information about every account ever opened, every loan ever secured and every financial institution with which an individual ever has done business. It also is a barometer for lenders to determine if they wish to do business with a particular consumer. Credit reports contain a credit score ranging from 300 to 850. Persons with scores over 700 are considered in good financial standing.

There are many reasons to check your credit report at least once a year, but fraud prevention and accuracy of information contained within the report are among the top reasons to take a peek.

Speaking of accuracy of information, there are certain kinds of information that are included in every credit report. While it is true that all three agencies collect their information in slightly different manners, all three generally follow the same rules as to what kind of information is found in the reports.

So what can you expect to see if you order a credit report on yourself?

All credit reports contain identifying information about the individual: full legal name, any aliases used, social security number, date of birth and employment information. Most reports also contain a complete listing of all places of residence for the consumer. Residential information is compiled from utility bills and credit card companies, or any other creditor with which an individual has done business.

A complete listing of all credit accounts also is included in an individualís report. Lenders will provide information on each account a consumer has opened with them. The report will classify which kind of account it is: bank account, credit card account, mortgage, vehicle loan, or utility service. If a consumer has closed an account with a creditor, the dates the account was both opened and closed should be included in the listing for that account. It is important to check this information closely to ensure that all accounts opened are in good standing and that the accounts were actually secured by the individual on the report.

Credit inquiries also are listed on a consumerís credit report. Credit inquiries are requests by any lender who has asked to view your credit report. Inquiries are classified as voluntary or involuntary. Voluntary inquiries are ones the consumer has initiated, such as for a car loan or mortgage. Involuntary inquiries are those conducted by companies, such as credit card companies, without your knowledge. It is not uncommon for certain creditors to check your financial standing to determine if they wish to make you a special offer on opening an account with them. Credit card companies frequently make involuntary inquiries on consumer credit reports in an attempt to drum up new customers.

The final bit of information included on credit reports is anything pertaining to a consumerís public history: bankruptcies, overdue payments, foreclosure and wage attachments are among the common items found on credit reports.

Any information found on the report which is in error should immediately be disputed with the credit reporting agency. Each of the three agencies has a process for disputing information, which is clearly explained on the reports they issue to consumers, as well as on their individual websites. TopConsumerReviews.com has reviewed and ranked the best credit repair services available today.

When Can I Get a Bankruptcy Off My Credit Report

Filing for bankruptcy in order to deal with overwhelming debts can be a frightening and confusing prospect. But if you're among those who have opted to use this approach in order to turn a troublesome financial picture around, you're probably wondering ...

Published:  Mon, 21 May 2018 07:42:00 GMT



Consumers with Bankruptcies, Tax Liens, or Civil Judgments on Their TransUnion Credit Reports May Be Affected by a Settlement

TransUnion agreed to settle litigation claiming it included inaccurate public records on its credit reports and failed to disclose the vendor from whom it obtained public record information. TransUnion denies that it did anything wrong. If the Settlement ...

Published:  Mon, 21 May 2018 07:11:00 GMT



F&D Reports / Creditntell Release 2018 Store Activity &"¶

Crew Group, and provides each company's store activity, TTM EBITDA margin and credit ratings. The report also identifies those retailers that are growing their brick-and-mortar locations, including TJX, ALDI, Dollar General, Dollar Tree, Walmart ...

Published:  Mon, 21 May 2018 07:04:00 GMT



Build Your Credit Score By Having This App Report Your On-Time Rent Payments

Building your credit up from scratch or trying to recover from a few screwups that made your score drop takes time. Making on-time payments on your loans and credit cards are a good way to do that, but your credit score doesn't take into account one big ...

Published:  Sun, 13 May 2018 05:52:00 GMT



'Free' credit report scam

Joel Hesch spent 15 years as an attorney in the Fraud Section of the Department of Justice helping administer the national whistleblower reward program. He is the author of "Whistleblowing: A Guide to Government Reward Programs: How to Collect Millions of ...

Published:  Thu, 10 May 2018 07:27:00 GMT



How requests about your credit report can hurt your score

A. We're glad to see you're paying attention to your credit reports. You want to make sure they're accurate because of the direct effect they have on credit scores, the ability to obtain credit and in some cases, the interest rates that come with it.

Published:  Mon, 05 Mar 2018 13:17:00 GMT



Credit reporting vital to bad loan management-CBAN

The Chairman, Credit Bureau Association of Nigeria, Mr. Tunde Popoola, says proper and timely credit reporting plays a significant role in managing or mitigating credit or operational risk in the economy as a whole. He said the system was an enabler to ...

Published:  Thu, 05 Apr 2018 09:12:00 GMT



How to Negotiate a Clean Credit Report

A late payment on a credit bill or other debt such as a mortgage can have a significant impact on your credit score. And the higher your credit score is to begin with, the more it can fall after a late payment. Paying your bills on time is the best way to ...

Published:  Thu, 22 Feb 2018 08:28:00 GMT



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