What is a Credit Report??

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Credit Report/Rating

• By infosolutions101

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Contents

• What is a Credit Report/Rating?
• FICO Score
• Factors Affecting FICO Score
• FICO Appraisal Check
• The 3-Credit Reporting Agencies
• Why Good Score Matters??

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What is a Credit Report/Rating?

• Credit Report is a file containing an
  individual's past finance related data and
  information.
• Based on the information provided in the credit
  report, it helps to evaluate your credit score
  accordingly.

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FICO Score

• FICO Score which is also called as Credit Score
  Range is a number that addresses the purchaser's
  money related soundness. It is used to evaluate
  any potential danger that may rise should the
  borrower not have the ability to pay his/her
  commitments.
• The FICO score can reach out from 300 to 850 with
  723 as its center score. 60 of the scores are
  some place around 650 and 799.
• In the United States of America, the FICO score
  is extensively used as a part of a FICO appraisal
  check.

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Factors Affecting FICO Score

• The FICO score is utilized to find out
  individuals credit worthiness. It is made of 30
  credit utilization 15 length of credit history
  10 types of credits used 10 recent searches
  for credit and 35 payment history.
• FICO Score will be lessened if one is late in
  settling his/her payment and likewise the score
  will be extended if one pays his/her payments on
  time.
• A low credit use extent can assemble a FICO score
  while a high credit utilize extent can decrease
  the FICO score.

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FICO Appraisal Check

• A FICO appraisal check is for the most part done
  by fiscal associations, for instance, Visas and
  depends upon customers who need to obtain money
  from them.
• FICO (Fair Isaac Corporation) is an uninhibitedly
  recorded association in the New York Stocks
  Exchange that gives fundamental authority and
  examination organizations to help budgetary
  associations, for instance, banks and charge card
  associations in making high volume, complex
  decisions. The association was started by Earl
  Isaac and Bill Fair in 1956.

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The 3-Credit Reporting Agencies

• There are 3 nationwide credit reporting
  association namely- Transunion, Experian, and
  Equifax issue free credit report to the US
  tenant.
• As they are independent association and use their
  particular data so, credit report issued by them
  may vary.

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Why Good Score Matters??

• A credit report contains individual's financial
  data that can tell us about the level of credit
  risk he/she is. It's very important to understand
  about what is a Credit Report?? so that you may
  have an idea about your credit worthiness while
  dealing with lenders or any other credit agents.
• A good Credit Report shows a good financial
  growth. So, it is important for everyone to have
  a good credit report to live a tension free life.

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Credit Repair
Not Just For Those With Bad Credit