Consumer Credit Reports
If you have ever applied for a credit card, a consumer loan
or car loan, or a line of credit to make some other large purchase, then
you have probably had your credit report reviewed by the credit card company, bank or lender.
If your
credit report says that you do not pay your bills on time, or that you
have a lot of debt, you risk that you may not get that loan. They could
also say that you may get it but re-payment will hurt you more - as
they will ask you, to pay a
higher interest rate.
Because it can have such an impact on your personal finances and your life, you should make sure that your credit report is accurate and that you understand how it affects the credit you can get. A credit report is an accumulation of information about how you pay your bills and repay loans, how much credit you have available, your credit cards debt, what your other monthly debts are, and other types of information that can help a potential lender decide whether you are a good credit risk or a bad credit risk. There is example of credit report on the right. You have to be aware that the credit report itself does not say whether you are a good or bad credit risk borrower. |  |
The report provides lenders with the detailed data to make the credit decision
themselves.
Credit bureaus, also known as credit reporting agencies (CRAs), collect such personal financial information from merchants, lenders,banks,service companies, etc., and then sell the report to businesses so they can evaluate your application for credit.
Lenders make their decisions based on various and different criteria, so having all of the information included in the credit report, helps them ensure that they are making the right decision.
There are three major credit bureaus called Equifax, Experian and TransUnion.
Credit bureaus, also known as credit reporting agencies (CRAs), collect such personal financial information from merchants, lenders,banks,service companies, etc., and then sell the report to businesses so they can evaluate your application for credit.
Lenders make their decisions based on various and different criteria, so having all of the information included in the credit report, helps them ensure that they are making the right decision.
There are three major credit bureaus called Equifax, Experian and TransUnion.
Main Credit Reports Companies
 | EQUIFAX
is one of the main credit bureaus as well as a well-respected and
established provider of consumer credit services. Equifax provides
consumers with a wide range of credit monitoring services, including plan for consumers who are looking to monitor their credit
score or who simply want to
receive access to their credit reports and scores.
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 | myFICO
offers consumers access to FICO scores, credit reports, and credit
monitoring services with a wide range of options available to help
consumers access to their credit history and manage their credit rating.
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 | CREDIT REPORT.COM
provides consumers with access to their free credit report and credit
score as well as credit report monitoring. Their modern credit score tracking
services will alert consumers in any changes in their credit reports and
credit score.
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 | CREDIT REPORTING.COM
provides 3-bureau credit reports, either with or without credit scores. They offer a
convenient and quick way for consumers to receive full access to their
credit information and their reports are available for immediate online access.
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 | CREDIT REPORTS AND SCORES.COM provides consumers with instant and detailed reports on their credit history.
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 | FREE CREDIT REPORT.COM
is a leading provider of online consumer credit reports, credit scores,
credit monitoring, and other credit-related information. FreeCreditReport.com is a part of the
Experian® family and offers innovative products to
help consumers better understand their credit.
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Copyright 2010-2011 by Dariusz Kudłaty
