What Is A Credit Report ?
When researching credit repair, many people wonder “what is a credit report?” A credit report is a summary of all your credit related activities. Any credit accounts you have now or have had in the past (including credit cards, home loans, auto loans and more) are listed in your credit report. A credit report details the balances of these accounts, account history, payment information and, if applicable, whether any action has been taken against you due to issues such as late payments or unpaid credit bills. A credit report is used by banks and other credit providers when deciding whether to grant a loan.
Your credit report is important as it affects your financial opportunities. It is a representation of you as a potential borrower and is used to give you a credit score. The true answer to “what is a credit report?” is “very important”.
The type of information recorded in a credit report includes:
- Identifying information: your name, sex, all addresses, date of birth, driver’s license number
- Name of creditor
- Date of credit application
- Amount of loan sought
- Co-signers on the loan
- Negative items such defaults, judgements etc
If you have discovered that your credit report has a bad rating, then Clean Credit can help. We specialise in helping people have negative credit items such as defaults and judgements removed from their credit files through our credit repair service. Through this we can help restore your credit rating, allowing you to secure credit once again