You know you can get a free credit report but just exactly what is a credit report? A credit report is a factual record of your financial activities involving loans, credit cards and your bill paying history. Lending institutions are permitted to check your credit report and review your payment history in making a determination on whether to approve a loan for you. When you made your first purchase with a credit card or got a loan for a car you began establishing a credit history. Nearly all the information in your credit report comes from the business you have dealt with. Lenders report any payment made or not made to credit report agencies. It is a good idea to get your free credit report on a regular basis to make sure it is accurate.
Saturday, November 28, 2009
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