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How Credit Reports Are Used


A credit bureau score is one type of credit score. It is calculated from the information on your credit bureau file at the time that the information was requested. Consequently, a credit score is like a snapshot. It sums up, at one given point in time, what your past and current credit usage says about […]

What’s In A Credit Report?


To understand the credit process, you first need to understand what information is contained in a credit report. Although the style, format and coding may be different depending on which credit reporting bureau is used, the typical consumer’s credit report includes the following four types of information:
Identifying Information—includes your name, nicknames, current and previous addresses, […]

What Is A Credit Report?


Credit reports are compiled by credit bureaus, often called National Credit Repositories — private, for-profit companies that gather information about your credit history and sell it to banks, mortgage lenders, credit unions, credit card companies, department stores, insurance companies, landlords and even a few employers.
To create a credit file for a given person, a credit […]

Your Total Debt Obligations


Some people would like to consolidate their debts and have either a lower monthly payment or fewer monthly payments. You probably should not consolidate your debts if…

Your habits are not likely to change.
The interest rate for consolidation is high.

You might want to seriously consider the possibility of debt consolidation if it would…

Stop creditor harassment. (Creditors […]

Assessing Your Personal Credit


How you used your credit in the past and the reasons for your past financial difficulties are two factors that affect your ability to get a loan. The first step is to understand whether or not you are considered a credit risk. Most lenders will consider you a higher credit risk only if your credit […]