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This article deals with the general concept of the term credit history. For detailed information about the same topic in the United States, see Credit score (United States).

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Fix Credit History's blog - Vox

This is Fix Credit History's blog on Vox. Vox is a free personal blogging service where people share thoughts, photos, videos & more with friends & family.fix-credit-history.vox.com/

Financial Management: Jump Start Your Credit History | Mint.com Blog ...

How do you build a great credit history? It all starts with good financial management. ... Blog. About. Financial Management: Jump Start Your Credit History ...www.mint.com/blog/finance-core/howto-jump-start-your-credit-...

Real Estate Blog - Does Poor Credit History or Low Credit Score Mean ...

... healthy credit score has ... Borrowers with poor credit history, low scores, recent ... and if the borrower has re-established a good credit history. ...activerain.com/blogsview/592806/Does-Poor-Credit-History

Your credit history and your car loan | Auto Credit Express Bad Credit ...

... Auto Credit Express Vice President George Hrisoulis Jr. The credit application, your credit history and the ... Options. Consumer Car Buying Advice Blog ...www.autocreditexpress.com/blog/2007/11/07/your-credit-histor...

Real Estate Blog - Credit Scoring - History (4 of 6)

Your credit history accounts for 15% of your total credit score. ... Sharon - I edited these credit blogs so that you can repost if need be - or just ...activerain.com/blogsview/758024/Credit-Scoring-History-4-of-...

Wikipedia About Credit History

This article deals with the general concept of the term credit history. For detailed information about the same topic in the United States, see Credit score (United States).

Credit history or credit report is, in many countries, a record of an individual's or 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.

In the U.S., when a customer fills out an application for credit from a bank, store or credit card company, their information is forwarded to a credit bureau. The credit bureau matches the name, address and other identifying information on the credit applicant with information retained by the bureau in its files.

This information is used by lenders such as credit card companies to determine an individual's credit worthiness; that is, determining an individual's willingness to repay a debt. The willingness to repay a debt is indicated by how timely past payments have been made to other lenders. Lenders like to see consumer debt obligations paid on a monthly basis.

The other factor in determining whether a lender will provide a consumer credit or a loan is dependent on income. The higher the income, all other things being equal, the more credit the consumer can access. However, lenders make credit granting decisions based on both ability to repay a debt (income) and willingness (the credit report) as indicated in the past payment history.

These factors help lenders 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), grace period and other contractual obligations of the credit card or loan.

How credit rating is determined

Credit ratings are determined differently in each country, but the factors are similar, and may include:

  • Payment history - a record of delinquent payments, generally being more than 30 days, will lower the credit rating.
  • Control of debt - Lenders want to see that borrowers are not living beyond their means. Experts estimate that non-mortgage credit payments each month should not exceed more than 15 percent of the borrower's after-tax income. Fact: date=December 2007
  • Signs of responsibility and stability - Lenders perceive things such as longevity in the borrower's home and job (at least two years) as signs of stability. Fact: date=May 2008
  • Re-Aging - Through re-aging, the date of last action on the account is changed. This can dramatically alter the credit score. In 2000, the Federal Financial Institutions Examination Council (FFEIC) clarified guidelines on re-aging accounts for delinquent borrowers. 1 (PDF)
  • Utilization--Lenders ascribe increased risk to accounts with balances near their limits.
  • Credit inquiries – An inquiry is noted every time a company requests some information from a consumer's credit file. There are several kinds of inquiries that may or may not affect one's credit score. Inquiries that have no effect on the creditworthiness of a consumer (also known as "soft inquiries") are:
  • Prescreening inquiries where a credit bureau may sell a person's contact information to an institution that issues credit cards, loans and insurance based on certain criteria that the lender has established.
  • A creditor also checks its customers' credit files periodically.
  • A credit counseling agency, with the client's permission, can obtain a client's credit report with no adverse action.
  • A consumer can check his or her own credit report without impacting creditworthiness.
  • Inquiries that do have an effect on the creditworthiness of a consumer (also known as "hard inquiries") are made by lenders when consumers are seeking credit or a loan, in connection with permissible purpose. Lenders, when granted a permissible purpose, as defined by the Fair Credit Reporting Act, can "pull" a consumer file for the purposes of extending credit to a consumer. Hard inquiries from lenders directly affect the borrower's credit score. Keeping credit inquiries to a minimum can help a person's credit rating. A lender may perceive many inquiries over a short period of time on a person's report as a signal that the person is in financial difficulty, and may consider that person a poor credit risk.
  • Credit cards that are not used - Although it is believed that having too many credit cards can have an adverse effect on a credit score, closing these lines of credit will not necessarily improve your score. Many risk models consider the difference between the amount of credit a person has and the amount being used: closing one or more accounts will reduce your total available credit, lower the percentage of available credit, and possibly lower your credit score. Risk models also factor in account age: closing an account with several years of history that is in good standing will most likely negatively affect your score.

Search results for Credit History

Travelers Insurance | Credit History and Insurance

Learn what credit history has to do with insurance, at Travelers.com. ... The information in my credit history is personal and sensitive. ...www.travelers.com/personal-insurance/credit-history/index.as...

How to Build a Good Credit History | eHow.com

Building a good credit history is essential to anyone who expects to make major ... You can still get a loan to buy a car if you have no credit history. ...www.ehow.com/how_2400_build-credit-history.html

TransUnion

Providing credit reports and identity evaluation solutions for consumer ... Instantly view your credit history and credit score with TransUnion, Experian ...www.transunion.com/

How to Repair a Bad Credit History | eHow.com

How to Repair a Bad Credit History. No matter how bad your credit is, you can take steps that will make it better. ... that person's credit will be affected ...www.ehow.com/how_4757_repair-credit-history.html

Credit Report and free credit score at Experian.com

Check your free consumer credit report online as well as business credit reports and marketing solutions. ... Additional services & products More about credit ...www.experian.com/

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Peek Into Madoff Corporate Credit Card Charges

WCBS 880 New YorkThe credit card bill is a 30-page study in conspicuous consumption. READ MORE>>http://wcbs880.com/content_page.php?contentType=4&contentId=...

The Real Problem with Credit Cards: The Cardholders

Time MagazineTo fix the problem of excessive credit-card debt, Congress needs to consider more than credit-card issuers -- it needs to consider youhttp://www.time.com/time/business/article/0,8599,1897362,00....

State Employees' Credit Union Pays Tribute to North Carolina's Cooperative History with the Purchase of First NC ...

Business Wire via Yahoo! FinanceRALEIGH, N.C.----State Employees' Credit Union is purchasing land for a new branch building at the historic Lowe's Grove Rural Credit Union site in Durham, North Carolina. Branch construction is set to begin this summer.http://biz.yahoo.com/bw/090511/20090511005907.html?.v=1

Snipping Credit Lines for Small Businesses

BusinessWeekFor small business owners, a line of credit can be a lifesaver, giving them a buffer against cash-flow problems and enabling them to handle regular expenses such as payroll.http://www.businessweek.com/smallbiz/content/may2009/sb20090...

Conn. House nixes credit checks of employees

Boston GlobeThe Connecticut House of Representatives has passed legislation that prevents employers from requiring workers or prospective hires to consent to a credit check.http://www.boston.com/news/local/connecticut/articles/2009/0...

News about Credit History

Madoff's family racked up charges on firm's credit card

Nashville TennesseanLawyers for the trustee claim in accompanying court papers that the credit card statement and other records prove Madoff's ... The trustee has stopped short of accusing anyone else of participating in perhaps the largest securities scheme in history ... http://www.tennessean.com/article/20090514/BUSINESS01/905140...

SNB's Jordan sees deep recession, slow recovery

Guardian Unlimited ... The global economy is facing a deep recession followed by only a modest recovery due to the hangover from the credit crisis ... History shows that an economy only returns to a sustainable growth path after a real estate and financial market crisis once ... http://www.guardian.co.uk/business/feedarticle/8506553

TheStar.com | Travel | Everglades landmark has grisly history in store

Toronto StarTheStar.com | Travel | Everglades landmark has grisly history in store ... number of books about the area, none as well-known as River of Grass by Marjory Stoneman Douglas, a woman many credit with ... http://www.thestar.com/Travel/article/633076

UPDATE 1-U.S. judge OKs bankruptcy loan for General Growth

Reuters ... based General Growth, which owns and operates more than 200 malls in 44 U.S. states. filed for Chapter 11 bankruptcy protection on April 16, making it the biggest real estate bankruptcy in U.S. history. The company blamed its collapse on the credit ... http://www.reuters.com/article/bondsNews/idUSN13435948200905...

Global Cash Access to Present at the JP Morgan 37th Annual Global ...

Businesswire.comWith its proprietary database of gaming patron credit history and transaction data on millions of gaming patrons worldwide, GCA is recognized for successfully developing and deploying technological innovations that increase ... http://www.businesswire.com/news/home/20090513006249/en

Search results for Credit History

Building a Better Credit Report

Inquiries: Consumer reporting companies must maintain a record of all creditors who have asked for your credit history within the past year, and a record of individuals or ... http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm

Credit History

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Discover your credit history - My Credit File - Australia

A Veda Advantage My Credit File will assist you in managing your personal information and also help you to better assess your own credit-worthiness.http://www.mycreditfile.com.au/my_credit_file_product_inform...

Who Invented Credit Cards - The History of Credit Cards

In 1950 Diners Club issued their credit card to pay restaurant bills however credit has been around a long time.http://inventors.about.com/od/cstartinventions/a/credit_card...

My Credit Report from Experian.com

Requests by others to view your credit history will show you who has received information from your credit report and who was given your name during the recent past, as allowed by ... http://www.experian.com/credit-reporting/my-credit-report.ht...

Wikipedia results for Credit History

Credit history - Wikipedia, the free encyclopedia

Credit history or credit report is, in many countries, a record of an individual's or company's past borrowing and repaying, including information about late payments and ... http://en.wikipedia.org/wiki/Credit_history

Credit union history - Wikipedia, the free encyclopedia

Credit unions are community-based banks organized according to cooperative principles. In the early stages of development of a nation's financial system, unserved and underserved ... http://en.wikipedia.org/wiki/Credit_union_history

Credit score - Wikipedia, the free encyclopedia

It also contains general information on how to build or improve credit history, and how to check for signs that identity theft has occurred. The publication is available online at ... http://en.wikipedia.org/wiki/Credit_score

Credit card - Wikipedia, the free encyclopedia

Prior to credit cards, each merchant had to evaluate each customer's credit history before extending credit. That task is now performed by the banks which assume the credit risk.http://en.wikipedia.org/wiki/Credit_card

Credit rating - Wikipedia, the free encyclopedia

A credit rating estimates the credit worthiness of an individual, corporation, or even a country. It is an evaluation made by credit bureaus of a borrower’s overall credit ... http://en.wikipedia.org/wiki/Credit_rating
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Answers for Credit History

ChiniCredit history?ChiniYou can start building a credit history as soon as you can have accounts in your own name. All the answers you've received thus far are correct. Something to remember is that credit history takes a ...Looking for CHow do i build a credit history in the USA?Looking for CTayWhat credit card is best for a first credit card, and you have limited history?Taythere are a couple of ways you could start building credit, you could get a small personal loan which you might need a cosigner or the best way will be getting a credit cards, you could get a credit c...MMCHow long does it take to create a credit history if you have none?MMCAre you smart enough to listen to some good advice from someone who’s been where you are? I’m betting you are because you’re seeking information on how to improve your credit score, which is a v...nice guyHow important is your credit history in a background check?nice guyCongrats on the new job. Basically, a background check deals with law enforcement agencies. As long as you have no convictions you get the job. Credit reports and background checks are not relate...
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