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June 28, 2001
By
Mindy Gratwicke
Website:
http://www.1st-choice-credit-cards.com
>
Establishing a good credit report rating
Establishing a good credit report rating is not only smart, but also essential for consumers wanting a better life. Like it or not, the fact is credit bureaus gather information about the consumer and sell it to banks, credit card companies, credit unions, finance companies, lenders, department stores, insurance companies, landlords, employers, and others. With the credit report rating, theses companies verify the data provided by the consumers in an application. Whether or not the applicant is approved, to a large degree, depends on what is contained in the credit report rating.
What is typically referred to as a “credit report rating” is more accurately termed “consumer report”. This is because credit is only one aspect of the report. A typical consumer report contains personal data, detailed account information including a monthly transaction history, information reported by landlords, utility companies, insurance companies, employment history, bankruptcy filings, lawsuits, court judgements, foreclosures, judgement liens, tax liens, criminal arrest and convictions. Inquires by creditors and others are also listed on one’s consumer credit report.
Consumers should always be aware of what is contained in their credit report rating, especially if they intend to apply for credit or an insurance policy, are seeking employment or looking for a place to live. Upon review, if it is discovered that there is derogatory, incorrect, outdated or misleading information contained within it, which approximately 50% of credit reports fall in to this category, and then it is important to take corrective action.
For
more information on credit report rating - click here!
> About The Author:Mindy Gratwicke is a successful author and the
publisher of http://www.1st-choice-credit-cards.com. A one-stop resource on on-line credit reports, credit rating, and report repair. *Webmasters,
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