What is a credit report?
Today more than ever, lenders and other service providers use your credit history to make decisions about whether to extend you new credit and services. Experts agree that checking your report regularly is the best way to ensure you get the credit you deserve.
What does a Credit Report show?
- Details of credit cards and loans opened in your name
- Complete breakdown of your payment history
- Negative account history to identify items that may be adversely affecting you
- Record of companies that have reviewed your credit file
- Missed payment history over the last 6 months
What is the 'Blacklist'?
The 'Credit Reference Agency Blacklist' is a myth! All lenders devise their own criteria and use credit checks from the credit reference agencies purely to gain the information they need to make their lending decision. If a lender tells you that you are on a blacklist, it is more likely to mean that you do not meet their particular criteria.
What is Credit History?
A record of how a consumer has conducted their financial affairs in the past. This is used as a guide as to whether or not the consumer is likely to pay on time in the future.
What is a Credit Report?
A record or file used by a prospective lender or employer that chronicles the credit standing of a prospective borrower. It is used to help determine creditworthiness of the potential borrower.
What is Credit Score?
A score calculated from SHARE data and public data which reflects your credit risk. Your score ranks you against other individuals in order to establish your level of risk.
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