What is a credit history?
sometimes, people talk about your credit. What they mean is your credit history. Your accredit history describes how you use money :
- How many credit cards do you have?
- How many loans do you have?
- Do you pay your bills on time?
If you have a credit tease or a loan from a bank, you have a credit history. Companies collect information about your loans and citation cards. Companies besides collect information about how you pay your bills. They put this information in one place : your credit report .
What is a credit report?
Your recognition report is a compendious of your credit history. It lists :
Reading: Your Credit History
- your name, address, and Social Security number
- your credit cards
- your loans
- how much money you owe
- if you pay your bills on time or late
Why do I have a credit report?
Businesses want to know about you before they lend you money. Would you want to lend money to person who pays bills on clock time ? Or to person who always pays late ? Businesses look at your credit report to learn about you. They decide if they want to lend you money, or give you a accredit calling card. sometimes, employers look at your credit reputation when you apply for a job. Cell telephone companies and insurance companies look at your credit report, besides .
Who makes my credit report?
A caller called a credit report caller collects your information. There are three big credit report companies :
These companies write and keep a report about you .
Can I see my credit report?
You can get a free copy of your credit report every class. That means one copy from each of the three companies that writes your reports. The law says you can get your free credit reports if you :
- call Annual Credit Report at 1-877-322-8228 or
- go to AnnualCreditReport.com
person might say you can get a complimentary report at another web site. They credibly are not telling the truth.
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What is a credit score?
A recognition score is a count. It is based on your accredit history. But it does not come with your free credit report unless you pay for it. A eminent credit score means you have thoroughly credit. A low credit score means you have bad credit. different companies have different scores. low scores are around 300. eminent scores are around 700-850 .
Do I need to get my credit score?
It is very important to know what is in your credit report. But a credit rating score is a act that matches your credit history. If you know your history is good, your score will be estimable. You can get your citation report card for rid. It costs money to find out your credit score. Sometimes a company might say the score is free. But if you look closely, you might find that you signed up for a service that checks your credit rating for you. Those services charge you every calendar month. Before you pay any money, ask yourself if you need to see your recognition score. It might be interest. But is it worth paying money for ?
Read more: What Is A Good Credit Score? | Equifax®
What if I do not have credit?
You might not have a credit history if :
- you have not had credit card
- you have not gotten a loan from a bank or credit union
Without a credit history, it can be harder to get a job, an apartment, or tied a credit card. It sounds crazy : You need credit to get credit .
How do I get credit?
Do you want to build your credit history ? You will need to pay bills that are included in a accredit report .
- Sometimes, utility companies put information into a credit report. Do you have utility bills in your name? That can help build credit.
- Many credit cards put information into credit reports.
- Sometimes, you can get a store credit card that can help build credit.
- A secured credit card also can help you build your credit.