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A credit report, sometimes called a credit note is a detailed report of an individual’s credit activity, credit history, and current credit situation such as loan paying. It is also a compilation of how and individual handle debt. The credit report also includes a credit history executive summary of an individual such as types of accounts.
The credit report contains information of an individual such as:
You may be surprised how necessary your credit report is included and how it can affect many areas of your life. As a matter of fact, most people have more than one credit report. This used by almost business to make decisions about you, whether or not they will be approving your credit cards and loans, including mortgage or auto loan.
There are some employers who will check your credit report as a part of their application process. The credit reports are also used by landlords to decide if they are going to rent you a lease.
To read a credit report it is divided into four sections: identification information, credit history, public records, and inquiries.
Having a good technical report will provide you with lots of benefits, including a lower interest rate on your credit cards and credit loans, saves you money on insurance and security deposits. Here’s how to maintain a good credit report.
The information that is found in your credit report is the detailed information about your credit cards and loan note and the basic identifying information such as your name, where you live, past employment, and your current employment including the address.
There are sometimes that your name and address are misspelled in the credit report or the figures and numbers are inaccurate. This is because of an error committed by the one who created your credit report or the business report who reported your information. But mostly, this is a sign of identity theft.