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July 10, 2001
By
Mindy Gratwicke
Website:
http://www.1st-choice-credit-cards.com
>
Get your credit report information on-line
Your credit report information comes from banks, department stores, or other lenders every time you obtain credit from those companies. Your report indicates the dated, the lender, your account number, theng balance, credit limit, and monthly payment. The credit report information also lists the number of times you have been late making payment at least 30 days, 60 days, 90 days. Utility accounts generally are not reported unless your payment is severely late.
There are certain marks that may cause a lender to decline your credit application. Lenders do not want to see these types of marks in your credit report information, these types of marks are red flags in lenders eyes.
- Bills turned over to collection
- Late payments (These typically only show up on your report if your payment is more than 30 days late.)
- Recent or numerous credit inquiries (An inquiry shows up on your report every time you apply for credit.)
- Overextended credit
- Bankruptcy (Which may stay on your record for 10 years)
- Liens
- Paycheck garnishments
Simple errors are usually easy to rectify. For example, yourcredit report information may state that your $50 minimum monthly payment on a particular credit card is actually $5000, a simple mistake of too many zeroes. If your mortgage loan officer raises a question, provide him or her with a recent statement, which should show your minimum payment amount. Then contact the creditor and ask them to send a letter to the credit reporting agencies requesting a correction.
For
more information on credit report information - 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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