Credit Reports and Credit Scores

You may have recently seen your credit score and wondered how you could improve it. Understanding what is used in the calculation of your credit score is the first step.

Have you recently had a credit card or loan application rejected? If you have, you have the right to know why your application was denied.

Why is my credit history important? What information is contained on my credit report? Who reports to the credit bureaus? How often is a credit report updated? Where do I get copies of my credit reports?

The three credit reporting bureaus deal with a substantial amount of information daily. As a result, mistakes can occur on your credit report.

Developing good credit is an ongoing process that starts with understanding how credit reporting works. While paying your bills is an essential step in the right direction, there are other smaller, lesser-known steps that are key to establishing and keeping a clean credit report.

Prior to 2003, consumers who were interested in reviewing their credit file disclosure (commonly called a credit report) either had to pay a fee, live in one of the states with state-mandated free reports, or have been denied credit.

Many clients tell us that once the bankruptcy is complete, they will never apply for credit again. However, in today’s financial world, that may not be realistic. You might also need a car or home and finance it over time.

Damage to the data strip on the back of your card can make it impossible to swipe and pay.