3 Score Credit Report

Score 3 Credit Report

What is the discrepancy between a credit report and a credit rating? a credit rating? Credit score is the numeric value computed from information in your credit record that is used by creditors and lessors to evaluate your "credit risk" at that inception. An overall number of points - a credit score - helps you forecast how credible you are, i.e.

how likely it is to pay back a credit and make your payment on schedule.

CROs compute the results in different ways, but all use a sophisticated arithmetic framework to take into consideration issues such as paying patterns, amount due, length of credit histories, new loans and credit type, among others. The value changes over the course of the years to precisely represent your actual fiscal behaviour. To make sure the credit information is fairly for everyone, certain elements are not taken into consideration in your evaluation.

Just to name a few, racial, religious, nationality, gender, ages, salaries and any other information that is not a predictor of your creditworthiness will never be taken into account when your score is calculated. The credit report is a synthesis of your personal finances - for the most part, your debt payment record and other accounts.

CROs ( also known as credit bureaux ) make available information obtained from credit bureaux, such as credit cards firms and bankers, that can be made available to a third person, such as creditors and employees. Additionally to the identification of information, credit records contain information such as the number and type of bank balances you have, your billing habits, collections procedures, receivables due, the ages of your bank balances, and any government records or collections positions, among other things.

There is also a checklist of all persons who have obtained credit information for you for a certain amount of space of time known as " enquiries ". Wherever you request a credit cards, a credit line, etc., the business you are requesting will request a copy of your credit report from one of the 3 credit bureaus.

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