| In 2001, the US congress made it possible for | | | | see this as grounds for refusing you credit. Companies |
| consumers to access their credit scores but it would | | | | will use any previous dealings with you to help them |
| be for a fee. Now, consumers can access their free | | | | assess your behavior or creditworthiness. |
| credit score online through any credit bureau that | | | | There are three major report agencies, namely, |
| maintains a website. Generally, this is computed | | | | Experian, Equifax and TransUnion, who compile |
| through the information in a consumer's credit report. | | | | information about you in order to come up with your |
| Missed payments and maxed out credit cards, for | | | | consumer credit report. All creditors use at least one |
| instance, are reported to the credit report bureaus to | | | | agency when evaluating your file. Your report includes |
| be recorded. The information are now used to rate | | | | information that is publicly available and this is the |
| whether or not a person is creditworthy or if he or she | | | | reason why there are cases of identity theft through a |
| is likely to pay his or her debts. | | | | report. A stolen identity can pull your score low as |
| There are three primary sources of information in a | | | | your thief can be making bad credits in your name. |
| consumer credit report that are used to compute the | | | | Make use of your free score and determine whether |
| scores. One of the information used for computation is | | | | or not you are likely to be refused credit or be |
| the application form. This is where creditors get the | | | | charged with high interests by your next creditor. This |
| crucial details of your postcode, salary, family size, your | | | | way, you can have time to fix your score before you |
| reason for the loan, and whether you are a | | | | actually apply for a loan. Also, scores are now being |
| homeowner or not. Be sure to fill the forms out | | | | used by landlords and employers. Having a bad score |
| carefully because the slightest mistake can instantly | | | | will most likely result in the refusal of an apartment or a |
| hurt application and approval, current or future. | | | | job. If you have been making late payments, going |
| Your past dealings with a company will also affect | | | | over your credit limit, or have had your identity stolen, |
| your score. Most companies will not only consider a | | | | then you can say goodbye to your chances of getting |
| high score but also how you dealt with other | | | | a good job or even a home. That is how important |
| companies in the past. If you have dealt well with one | | | | report and scores are these days. |
| company but poorly with others, then a creditor may | | | | |