My Credit Report

Article source: http://www1.ficpa.org/. Used with author's permission.

"What kind of information is on my credit report -and how can I see it?" is a common question among people who have had trouble securing credit or loans. Basically, your personal credit report is an electronic record of all of your credit activity including recent requests for credit that you have applied for and the payment activity on any open or closed credit or loans you may have. This history is vitally important because lenders use your credit report to determine if they are willing to extend loans or credit to you.

There are four main areas of content on your credit report: Identifying information, credit history, public records, and credit inquiries. Additionally, a credit report also shows any current credit that you have, including loans, debts and credit limits. It also has the payment amounts on installment loans.

To see what is on your credit report visit credit-report-credit-score.com to request your free copy. Knowing what is on your credit report before beginning the loan application process can save you a lot of time and hassle.

Lenders use the information on your credit report to generate your credit rating when evaluating your loan request. The higher your credit rating is, the more likely you will be to receive the loan and at more favorable terms. For this reason, it's a good idea to take a look at your credit report before making any purchases which require a loan or credit.

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