Credit Report Score - How Healthy Is Yours?

Your Credit Report Score

Not everyone will find themselves in the enviable position of enjoying the degree of financial flexibility that comes with having a high credit score and a good credit history.

If like many people, your credit scoring is poor or low, there are ways of improving it. To achieve this, you will need to get informed as to what exactly is contained in your credit information file and how that information is affecting your credit report score.

Your credit report file will contain essential information about you and more importantly, about your credit card or other credit history. Once you have this information, you are then in a position to assess whether the credit information on you is in fact accurate or up-to-date.

It is actually good practice to check your credit report every couple of years or so, just to keep yourself updated on how creditors perceive your current level of credit-worthiness. It will also alert you to any instances of inadvertent or adverse credit information that has being filed on you. That way you can challenge and put right any inaccuracies, prior to you actually applying for credit and running the risk of being declined.

Here are some steps to help you understand the reasons you might have been turned down for credit card credit, and the action you can take to improve your credit rating score in the process. Improving your credit scoring will also improve your chances of getting approved for a credit card or any other kind of credit in the future.

Consider the following factors. Each is important in its own right and will not only play a part in your perceived credit- worthiness but will ultimately be reflected in your credit report score.

  • The size of any current debt you are carrying will be taken into    consideration, as well as your ability to repay it (size of your income)

  • Having a number of un-used credit cards, credit accounts or or even    closing un-used credit card accounts

  • Late or missed payments record

  • Payment arrears on court judgments, bankruptcy notices etc.,

    The above are just some of the individual or collective factors that can impact adversely on your credit score, leading to either a low credit rating score or a poor one.

    Get A Credit Report On Your Credit Card History

    You can obtain reports from credit reference agencies, detailing your credit information and credit scores (Uk) and from credit bureaus (US). Once you have copies of your credit report, you'll be able to see whether there is anything in your credit history you need to get amended.

    You will find further information on how to get a credit card report by visiting how to credit check my credit report score

    The content on this site is purely for information purposes only and is not intended to replace your seeking professional financial advice.

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