Credit Report

A credit report is a summary of your financial history. Potential lenders will use your credit report to help them evaluate whether you are a good credit risk or a bad credit  .
The three major credit-reporting agencies are Experian, Equifax, and Transunion. These agencies collect certain types of information about you, primarily your use of credit and information in the public record, and sell that information to qualified recipients.
As the rule of Fair and Accurate Credit Transaction Act (FACT Act), you are entitled to a free copy of your credit report each year from each of the credit reporting agencies.





The person has a right to see the credit report at any time if they have been turned down for a loan, an apartment, or a job because of poor credit. They may also question any information the credit reporting agency has about you and ask that errors be corrected.
If the information isn’t changed following your request, the person has the right to attach a comment or explanation, which must be sent out with future reports.

8 Responses to Credit Report

  1. […] can either be used synonymous to credit history or to credit score. Credit history or credit report is, in many countries, a record of an individual’s or company’s past borrowing and […]

  2. […] the particular security being issued. (In contrast to CRAs, a company that issues credit scores for individual credit-worthiness is generally called a credit bureau or consumer credit reporting agency.) […]

  3. […] credit rating also known as called sub-prime credit history, non-status credit history, impaired credit history, poor credit history, and bad credit history. A negative credit rating is often considered […]

  4. […] expression based on a statistical analysis of a person’s credit files, to represent the creditworthiness of that person. A credit score is primarily based on credit report information typically sourced […]

  5. […] the credit bubble of the mid-2000s, a few academics, analysts and investors such warned that financial […]

  6. […] term “tranche” is used in fields of finance other than structured finance. Tranche stands for series, portion, section or slice. From the […]

  7. […] encompasses a variety of provisions that may be used to reduce the credit risk of an obligation. Credit enhancements are often incorporated into OTC derivatives, corporate debt, […]

  8. […] a document issued mostly by a financial institution, used primarily in trade finance, which usually provides an irrevocable payment undertaking, it can […]

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: