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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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Credit Report Blog - Credit Report Blog

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CreditReportBlog.com - Credit Report Blog, Free Credit Report, Credit ...

Credit Report Blog provides tips on Free Credit Report, Credit Score, Credit ... Tags: Credit Report, Credit Report Blog, financial goals, outstanding debts, ...creditreportblog.com/

Credit Report and Scores

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Credit reports blog

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Free Credit Report Blog

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Wikipedia About Credit Reports

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 record - a record of bills being overdue, 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, a credit history is re-written and you are given a fresh start on that particular account. This can dramatically improve the credit score. In 2000 the Federal Financial Institutions Examination Council (FFEIC) clarified guidelines on re-aging accounts for delinquent borrowers. 1 (PDF)
  • Credit outstanding--Lenders don't like to see the amount of credit owed bumping up against the credit limit of a card. Generally, a good idea is to owe no more than one-third of your total credit limit on a credit card.
  • Credit inquiries – An inquiry is a notation on a credit history file. There are several kinds of notations that may or may not have an adverse effect on the credit score. Soft pulls don't affect the credit score and are characteristic of the following examples:

Search results for Credit Reports

Credit Cards - Free Credit Reports - Online Loans - Credit.com

Offers consumers tips, tool, and deals on loans, mortgages, credit cards, debt management services, and other financial resources.www.credit.com/

TransUnion

Providing credit reports and identity evaluation solutions for consumer-oriented businesses.www.transunion.com/

AnnualCreditReport

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Online Credit Report - FreeCreditReport.com

Offering a free online copy of your credit report and credit score when you sign up for a trial of the CreditCheck monitoring service.www.freecreditreport.com/

Free Credit Reports - Federal Trade Commission

Free credit report facts and links from the FTC. Includes press releases and a form for filing complaints about sites that try to charge for a free credit report.www.ftc.gov/freereports

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Berkshire Hathaway reports a $1.5B 1Q loss

AP via Yahoo! NewsWarren Buffett's company reported a $1.5 billion first-quarter loss as it wrote down its ConocoPhillips investment and mostly unrealized derivative losses helped drag Berkshire Hathaway's results below last year's $940 million profit.http://news.yahoo.com/s/ap/20090509/ap_on_bi_ge/us_earns_ber...

Toyota reports first annual loss

CNNToyota reported a first-ever annual net loss of $4.4 billion on Friday, the latest automobile maker to be battered by the credit crisis.http://www.cnn.com/2009/BUSINESS/05/08/Toyota.Loss/index.htm...

RBS reports 857 million pound net loss

AFP via Yahoo! NewsRoyal Bank of Scotland, the British lender recently rescued by the taxpayer, reported Friday a first-quarter net loss of 857 million pounds as write-offs linked to the credit crunch soared.http://news.yahoo.com/s/afp/20090508/bs_afp/britainbankingco...

QuIC reports credit risk contract win

FinextraQuIC Financial Technologies, a leading global solutions provider of risk management, pricing and financial analytics, today announced a major ...http://www.finextra.com/fullpr.asp?id=27456

News about Credit Reports

Berkshire Hathaway reports a $1.5B 1Q loss

MSN MoneyCentralSince the quarter ended, Berkshire paid out another $450 million on credit default derivatives, leaving it with about $3.3 ... Berkshire executives typically do not comment on quarterly earnings reports, and they did not respond to an interview request ... http://news.moneycentral.msn.com/category/topicarticle.aspx?...

5 costs of buying a home you didn’t consider

MSNBCThese are service fees charged by the lender, and could cover items such as credit reports, appraisals, documentation and administrative costs. The total expense will vary depending on where you live and your particular situation. According to ... http://www.msnbc.msn.com/id/30608283/

Mashreq reports strong financial results achieving net profit of AED ...

Mena ReportMashreq reports strong financial results achieving net profit of AED 484 Million for 1st Quarter 2009 ... This first-of-its-kind mobile payment service in the UAE is available for 3.5 million credit card users as well as Mashreq ... http://www.albawaba.com/en/business/245445

Identity theft protection services may not be worth cost

NewsdaySome monitoring services don't check all three major credit bureau reports and don't notify you immediately when someone is applying for credit in your name. Free reports. Some identity-theft services promise to provide you with "free" copies of your ... http://www.newsday.com/business/ny-bzcov1012651006may08,0,59...

All mutual funds are not created equal

Pittsburgh Post-GazetteAs for scouring bond reports to determine the credit quality of a portfolio and whether the bonds are insured, the exercise is not as useful as it used to be, according to Mr. Kreps. "We've learned that AAA isn't necessarily AAA ... and that just ... http://www.post-gazette.com/pg/09130/968827-435.stm?cmpid=ne...

Search results for Credit Reports

TransUnion - Check Your Credit Report and Credit Score Online ...

View your credit report and credit score online at TransUnion.com. You can also dispute an item in your credit report online, protect yourself from identity theft and find out if ... http://www.transunion.com/

FreeCreditReport.com | Free Credit Report and Credit Score Online by ...

FreeCreditReport.com: Free credit reports and credit scores from Experian. Get your free credit report and credit score now. It's free, fast, and easy! All credit reports are not ... http://www.freecreditreport.com/

Credit Reports and Score Online from CreditReports.com - home ...

Obtain your Credit Report and Credit Score today from CreditReports.com, the leader in Online Credit Reports and Scores. The government announced plans Friday to expand purchases ... http://www.creditreports.com/?540930

Credit Reports and Score Online from CreditReports.com - home - Credit ...

Obtain your Credit Report and Credit Score today from CreditReports.com, the leader in Online Credit Reports and Scores. Many consumers are getting a big surprise when they get ... http://www.creditreports.com/

Credit Reports - Consumerist

credit reports FTC Launches Own Singing Credit Report Commercials As we've said repeatedly, AnnualCreditReport.com is the good website to go to when you need to pull a credit ... http://consumerist.com/tag/credit-reports/

Wikipedia results for Credit Reports

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_reports

Credit score - Wikipedia, the free encyclopedia

The Government of Canada offers a free publication called Understanding Your Credit Report and Credit Score. [3] This publication provides sample credit report and credit score ... http://en.wikipedia.org/wiki/Credit_scores

Fair and Accurate Credit Transactions Act - Wikipedia, the free ...

The Fair and Accurate Credit Transactions Act of 2003 (FACT Act or FACTA, Pub.L. 108-159) is a United States federal law, passed by the United States Congress on November 22, 2003 ... http://en.wikipedia.org/wiki/Freecreditreport

Credit report monitoring - Wikipedia, the free encyclopedia

Credit report monitoring is the monitoring of your credit history in order to detect any suspicious activity or change in your credit history. Companies offer such service on a ... http://en.wikipedia.org/wiki/Credit_report_monitoring

Credit bureau - Wikipedia, the free encyclopedia

Commercial credit reports and scoring also exist, which can be used to evaluate the likelihood of a business paying creditors. Examples of these are the Paydex score from Dun and ... http://en.wikipedia.org/wiki/Credit_bureaus
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Obama pushes credit card reform bil...

Obama pushes credit card reform billMay 9: President Obama talks about how he intends to help American's deal with the credit card industry and what his administration hopes to do in order to limit hidden fees and...Windows Media - Video

Obama Talks Credit Cards, Meets Cap...

Obama Talks Credit Cards, Meets Capt. PhillipsPresident Obama met with Captain Richard Phillips and his wife at the White House. Glen Walker reports.Windows Media - Video

We deserve some credit - Pulis

We deserve some credit - PulisStoke City manager Tony Pulis says it is about time his players get the credit they deserve after securing their Premier League status with a 2-1 win away at Hull City.Video - Video

President pushes Congress to tighte...

President pushes Congress to tighten reins on credit card industry(NECN) - On Saturday, President Barack Obama gave his weekly address on whitehouse.gov/ and YouTube. President Obama is pushing congress to send him legislation by Memorial Day...Flash - Video

Police Shoot a Woman Over Fraudulen...

Police Shoot a Woman Over Fraudulent Credit CardA woman is in critical condition after being shot by police near the Magnificent Mile Saturday following a credit card scam, as CBS 2's Suzanne Le Mignot reports.Windows Media - Video

Answers for Credit Reports

animal_motherCredit Reports?animal_motherYES a big diffrence some collection agencies only report to one or two of them! You have to look at all three at one time ....shaanHow to get credit reports form scratch to get a credit card?shaanIf you've already opened a bank account, you can get a "secured credit card" through your bank. They require you to make a deposit (typically $200-300) and your deposit will be your initial credit li...I Like ReadingHow long should I keep my credit reports?I Like ReadingReports from Equifax, TransUnion & Experian do not need to be retained at all. You should check that the information is accurate frequently. I suggest a monitoring service, not any provided by a credi...Bruce TIs there a credit reporting agency that will accept credit reports from a small business w/o charging a fee?Bruce TYou have to pay but you also get a discount/credit for information that you supply to the credit bureau about your customers. I was thinking about this once but the terms and conditions seemed pretty ...libertywarriorWhat is the best company to order credit reports from?libertywarriorEquafax
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