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Your Credit History report show
your credit scores |
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Credit
History Reports: What They Tell About You
Understanding Credit
History Reports and Credit Scores
Credit history reports
contain information about your identity, where you live and how much you
owe various creditors. In
addition, credit history reports show a pattern of making payments on time
or not, how much open credit you have that you have not yet tapped into,
and how often you apply for credit. There
is also information about any liens on property, bankruptcy proceedings,
and who has been looking at your credit report in recent years. All of the information on
your credit history report is factored into a statistical model to create
credit scores. The higher the
score, the better, meaning the information in your credit history report
is more favorable and you are more likely to follow the same pattern of
responsible behavior with future credit extended to you. Credit history reports stay
with you for many years and should be closely monitored. Even
if you know you always make payments on time and have never defaulted on a
loan, it is important to check your own credit report.
It may be an erroneous item was reported to the consumer credit
bureau, or the loan you paid off never was reported as such.
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