Your credit report contains a great deal of information about your financial situation. But how do you know what’s in your credit report?
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I’m in the process of getting a refinance. As part of the good times, my credit report was pulled. One of the ongoing frustrations with my credit report is all the double-reported loans.
When the issue of credit comes up, it is not uncommon to become a little confused at the difference between a credit report and a credit score. However, knowing the difference between the two, and understanding how they are related, is essential if you want to stay on top of your credit situation.
When you make financial mistakes, the negative items can remain on your credit report and affect your credit score. According to MyFICO, here is how long certain items remain on your credit report.
It’s easy to get a little mixed up on the difference between a credit report and a credit score. Here are the basics of what to expect when your credit is considered.
One of the items that is most used in making judgments about your ability to handle credit, and make payments on time is your credit report. The infographic below is from Direct Lending Solutions, and offers an interesting look at your credit report, as well as your credit score.
Regularly check your credit report for errors, and fix mistakes that you find. That way, you stand a better chance of having an accurate score that lenders are impressed with.
Your credit score isn’t made out of thin air. You credit report, and what is in it, has a direct affect on what your credit score is. See how.