Not sure what credit rating is? Learn what is a credit report through experts

For an average American, a good credit report plays a crucial role in their financial decisions. So what makes your credit report good or bad? What are some aspects of your payments and invoices that matter while calculating your credit points? 

Let’s discuss these queries in detail and figure out how they impact your credit scores.

What Is A Credit Report?

You can think of it as your financial resume since it tells potential lenders the past and present of your financial health.

What Does a Credit Report Include?

You can estimate your score by knowing the aspects included in the credit report. To make it easier for you to understand what your credit report contains, we have jotted down some of its major aspects. Regardless of the agency, you can find the following terminologies in any credit report. 

Personally Identifiable Information (PII)

Credit Account

This information is necessary for the FICO score calculation, so it’s important to have a good reputation for your account.

Credit Inquiry

They occur when companies or individuals, like credit card companies or loan servicers review your credit report.

what is a credit report the basics

Archive and Public Collection

There is no quick fix for credit recovery. Even if your credit report includes unsorted debt, this is not the end of the world. You can still get your loan based on other included factors that are on point.

Final Thoughts

If your Credit Report is not looking great and you need professional help improving it, Credit Repair Today can help you amp up your credit score. Credit Repair Today is an accredited credit repair consultant.