A Credit Report is a detailed report of credit history that is gathered by three credit bureaus; Transunion, Equifax, and Experian. Things like personal loans, mortgages, credit cards, medical bills and car payments are some of the things that can be on your credit report. Lenders look at your credit report to determine your creditworthiness, your credit report carries a lot of weight. They affect nearly every aspect of your life and certainly affect how lenders, potential jobs, auto insurers and business partners will view you.
What Credit Reports Are Not
Credit reports do not include your income, marital status, assets, age or location. They are also not permanent, after seven years your report will knock off accounts that are seven years old. You can also always improve your credit, whether it is by taking out a loan to pay everything off or starting to pay your bills on time. Using a credit monitoring service, like Credit 9 is going to help you stay on top of your report and make sure you are doing everything you can to maintain a high score.
How To Get A Copy Of Your Credit Report
By signing up with Credit 9 you will get a free copy of your credit score. We will pull a soft copy, meaning it will not affect your credit in anyway. You will also get a breakdown of what is hurting your credit, this will show you exactly what you need to working on to bring up your score. You can login whenever you would like and see you credit report, we will also be alerting you of any fraud we find.
What The Numbers Mean
Your credit score is calculated on a formula based on open credit card utilization, on-time payments, accounts in collections, bankruptcies, foreclosures, liens, age of credit lines, total amount of accounts and hard credit inquiries. All of these things determine what score you credit is at. Having a great credit score makes it easier for you to get a loan, and you end up paying less money in interest.
Make Credit Reports Work For You
Monitoring your credit is very important, any errors on it needs to be reported to the credit bureaus as it can dramatically hurt your score. It is illegal for a credit bureau to report inaccurate information. Using a credit monitoring service like Credit 9 makes it simple for you to take control of your credit report.