Credit History

Today more than ever, lenders and other service providers use your credit history to make decisions about whether to extend you new credit and services. Experts agree that checking your report regularly is the best way to ensure you catch possible inaccuracies.

Credit history or credit report is, in many countries, a record of an individual's or a company's past borrowing and repaying, including information about late payments and bankruptcy. The term "credit reputation" can either be used synonymous to credit history or to credit score.

When a customer fills out an application for credit from a bank, store or credit card company, his or her information is forwarded to a credit bureau, along with constant updates on the status of his or her credit accounts, address, or any other changes made since the last time he or she applied for any credit. This information is used by lenders such as credit card companies to determine an individual's or entity's credit worthiness; that is, determining an individual's or entity's means and willingness to repay an indebtedness.

This helps determine whether to extend credit, and on what terms. With the adoption of risk-based pricing on almost all lending in the financial services industry, this report has become even more important since it is usually the sole element used to choose the annual percentage rate (APR).

Check Online Credit Report, Find out more about Single Credit Report

Credit reports are a serious matter. They are the “be all and end all" when it comes to getting financial support from your bank. Your credit rating tells your bank about your buying habits and spending tendencies. Banks use this information to calculate how likely you are to default on a loan.

Many financial institutions such as banks and lending companies rely on credit reports to efficiently pinpoint loan applicants who are most capable of paying them back. After they have ascertained that, they again use credit reports to gauge how much they can safely lend to each applicant.

Single Credit Report

The Single Credit Report is a snapshot of your credit history according to one major credit bureau.

The single credit report includes, review your essential credit information at a glance, detailed information about your loans and credit accounts, names of people who has reviewed your credit report and when, contact information for all your lenders and creditors, inaccuracies that could negatively impact your credit, protection against possible identity theft.

The single credit report is a great product if you want to get a snapshot of your credit history from a major credit bureau.