Your credit score is calculated based on the information in your credit report. Credit scores allow lenders to quickly make on-the-spot credit decisions based on a 3-digit number that sums up your credit worthiness. There are many credit scoring models in use today; all are designed to rate your likelihood to repay your debts. When you order your credit score, you will also receive an analysis of the factors affecting your score.
Your credit report is a snapshot of your credit at a particular moment in time. However, in reality that information is flowing in and out of your credit report all the time. Credit applications, home and auto loans, payments, an address change or even an inquiry from a prospective creditor all show up on your credit report - and affect your credit score.
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Credit history is the main determining factor of credit nowadays, but there are potential problems that can work against consumers. Since some credit reports can contain inaccuracies serious enough to cause consumers to be denied credit, a loan or even a job, keeping abreast of changes to your credit file is vitally important.
purchase credit report
Purchase Credit Report Copyright 2009 - 2011
Purchase Credit Report
Purchase credit report The Term Credit Score was not a house hold word used in our every day lives just a few short years ago. Although some people understood the phrase and its purpose the mainstream of folks had no reason to understand what their credit score was and how it affected their chances of obtaining a low interest rate loan. Purchase credit report To properly interpret your credit score, you first need to understand how the credit bureaus and the lenders determine your score. It's a two step process, the bureaus compile your recent credit history to create your credit report. Then the information in the credit report is used to arrive at your credit score. Purchase credit report Credit scores will affect your loans, your insurance, and your ability to rent an apartment. Your credit scores may even affect your ability to get a job. A nationally recognized credit repair expert answers your questions about credit scores.