Learning What’s In Your Credit Report the Hard Way

Posted on January 20th, 2010

Credit Tip! Creditors use your credit report and score to decide whether or not you should be given a loan.

The fact is, you never realize the importance of the information contained in your credit report until that information comes back to bite you. That is certainly true in my case, and I once watched the car loan I needed slip away, and with it my dream car, all because of a mistake in my credit report.

As a young person, I paid little heed to that mysterious thing known as a credit report. After all, I had always paid my bills on time, and I just assumed I had perfect credit. That is until I applied for a car loan – and was turned down cold. I could not imagine what the problem was, and I asked the loan officer at my bank for an explanation. He explained that my credit report showed negative entries and that was why they could not approve the loan.

Credit Tip! 1. Get copies of your credit report–then make sure the information is correct. G Read more…

Tags: Credit Report, Report
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