| Do you know whether or not
you are a "good" credit risk? Most lenders use the information
in a credit report to evaluate your history of timely payments
and how responsibly you've managed credit in the past. Your credit
history is maintained by a reporting agency, which is a company
that gathers, files and sells information to creditors and/or
employers to facilitate their decisions to extend credit or employment.
Most negative credit information remains
on file for seven years and can greatly influence the options
and opportunities available to you in life. Even though you may
not need credit today, by thinking ahead, you can establish a
solid credit history for when you need it in the future.
| What is in your credit
report? |
- Personal information
- Payment history
- Inquiries into your credit history
- Any bankruptcies, lawsuits, and liens
|
Remember that bill you decided to ignore?...
Yes, that's on there too. Your credit history can contain an accounting
of how well you pay off your rent, utilities and loan payments,
and how well you manage your bank accounts. It's also a great
way to confirm that any accounts you closed are really closed.
So how can you tell if you have good
credit?
You can order your credit report from Equifax
or from Trans
Union. There is a fee to order your report online, or you
can get a free copy by mail.
Keep track of your financial record.
When you get your report, if you see anything wrong, call the
credit bureau immediately for more information.
|
